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On July 1, 2015, Jeffrey Underwriters Associates received $8,000 from a client for a 2-year insurance policy. Prepare the necessary journal entries for Jeffrey Underwriters

On July 1, 2015, Jeffrey Underwriters Associates received $8,000 from a client for a 2-year insurance policy.

Prepare the necessary journal entries for Jeffrey Underwriters Associates on July 1 and December 31.

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