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On September 1 20x1, Upholstery Masters purchased a one year insurance policy for S1080. The correct adjusting entry on December 31, 20x1,5 Multiple Choice debit

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On September 1 20x1, Upholstery Masters purchased a one year insurance policy for S1080. The correct adjusting entry on December 31, 20x1,5 Multiple Choice debit insurance Expense 530, credit Preped insurance 590 debitincepe credit Prepaid Insurance 360 dobited inance 890, dance spente 300 debih Prepaid insurance 360, credinceps $300

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