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On Dec. 5, paid $7,000 for a one year insurance policy. Prepaid Insurance Dec.5 Prepaid Insurance Date Explanation Ref Debit Credit Balance Cash Cash Date

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On Dec. 5, paid $7,000 for a one year insurance policy. Prepaid Insurance Dec.5 Prepaid Insurance Date Explanation Ref Debit Credit Balance Cash Cash Date Explanation Ref Debit Credit Balance On Dec. 3, made a $7,000 payment on notes payable. Notes Payable

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