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On June 1, 2018, Bere Ltd. pays $14,280 to Safety Insurance Corp. for a one-year insurance policy. Both companies have fiscal years ending December 31

On June 1, 2018, Bere Ltd. pays $14,280 to Safety Insurance Corp. for a one-year insurance policy. Both companies have fiscal years ending December 31 and adjust their accounts annually.

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(d) Post the above entries and indicate the adjusted balance in each account. (Post entries in the order of journal entries presented in the previous question.) Bere Ltd. Prepaid Insurance Insurance Expense Unearned Revenue Insurance Revenue

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