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On January 1, 2020 Al-Isra Company paid a $2,400 for a one-year (12 months) fire insurance policy that will expire next year. If the company

On January 1, 2020 Al-Isra Company paid a $2,400 for a one-year (12 months) fire insurance policy that will expire next year. If the company prepared the financial statements on December 31, 2020, then the adjusting entry is

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