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On April 1, Rivera Company paid $19,200 for two years of insurance in advance. Rivera Company recorded the transaction by debiting Prepaid Insurance and crediting

On April 1, Rivera Company paid $19,200 for two years of insurance in advance. Rivera Company recorded the transaction by debiting Prepaid Insurance and crediting cash. Required: Joumalize the adjusting entry on December 31. Account Title Debit Dec

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