on June 1, 2021, XYZ purchased a 1 year fire insurance policy from HIJ company for $18,000.

1. Prepare the adjusting entry for XYZ on 12/31/21 if the original was recorded to a temporary account and no additional entries have been made for the year associated with this transaction

2. Prepare the adjusting entry for HIJ an 12/31/21 if the original entry was recorded to a permanent account and no additional entries have been made for the year associated with this transaction

3. Prepare the adjusting entry if the unadjusted trial balance for XYZ as of 12/31/21 shows a balance of $12,000 in prepaid insurance. If no adjusting entry is required, write no entry required

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On June 1, 2021, XYZ purchased a lyear fire insurance policy from HIJ Company for $18,000 (10 points) Copy the entire question (1, 2 and 3) along with the tables below to answer in the same format 1. Prepare the adjusting entry for XYZ on 1231/21 if the original entry was recorded to a temporary account and no additional entries have been made for the year 2180ciated with this transaction. (3 pts) Account Title Description Credit Date Debit 2)Prepare the woning enly for HIJ on 12/31C1 i the original entry was receted to a permanent account and no addition) entries have been made for these seistet niche scoper) Acc Tile Description DM Debit Cred 3.) Prepare the adjusting entry if the unadjusted trial balance for XYZ as of 12/31/21 shows a balance of $12,000 in prepaid insurance. If no adjusting entry is required, muite no estry required. (4 pts) Date Account Title Description Debit Credit