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On July 1 , Evans Company paid $15,000 for two years of insurance in advance. On July 1 , Evans Company debited Insurance Expense, which
On July 1 , Evans Company paid $15,000 for two years of insurance in advance. On July 1 , Evans Company debited Insurance Expense, which is an alternate way of recording the initial expenditure. Required: Journalize the adjusting entry on December 31
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