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On April 1, Henderson Company paid $12,000 for two years of insurance in advance. Henderson Company recorded the transaction by debiting Prepaid Insurance and crediting

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On April 1, Henderson Company paid $12,000 for two years of insurance in advance. Henderson Company recorded the transaction by debiting Prepaid Insurance and crediting Cash. Required: Journalize the adjusting entry on December 31 Date Account Title Debit Credit Dec 31

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