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On September 1, 2014, the Matisse Co. paid $12,000 for insurance to cover the next 12 months. Assume the company prepares all adjusting journal entries

On September 1, 2014, the Matisse Co. paid $12,000 for insurance to cover the next 12 months. Assume the company prepares all adjusting journal entries at the end of the year, the adjusting journal entry prepared on 12/31/14 would include a:

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