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On April 1, 2018, Jiminee Insurance Company sold a one-year insurance policy covering the year ended March 31, 2019. Jiminee collected the full $2,100 on
On April 1, 2018, Jiminee Insurance Company sold a one-year insurance policy covering the year ended March 31, 2019. Jiminee collected the full $2,100 on April 1, 2018. Jiminee made the following journal entry to record the receipt of cash in advance (Click the icon to view the journal entry.) Nine months have passed, and Jiminee has made no adjusting entries. Based on these facts, the adjusting entry needed by at December 31, 2018, is Uneamed Revenue 1,575 Insurance Revenue 1,575 Data Table Insurance Revenue 525 Unearned Revenue 525 O C. Insurance Revenue 1,575 Journal Entry Unearned Revenue 1,575 Debit Date Accounts Credit Uneamed Revenue 525 2,100 1 Cash Apr 525 Insurance Revenue 2,100 Unearned Revenue Print Done
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