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On March 1, 2014, Tina paid $1,200 for a 6 month insurance policy. Tina did not record the consumption of the policy during the year.

On March 1, 2014, Tina paid $1,200 for a 6 month insurance policy. Tina did not record the consumption of the policy during the year. Assuming that Tina's accounting period ends on June 30, 2014, what account should Tina credit in the adjusting entry for this insurance policy?

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