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PART II. SHORT PROBLEMS (60 POINTS) 1. On January 2, 2015, Grower Company paid $36,000 to ZZZ Insurance Company to cover its Headquarters insurance
PART II. SHORT PROBLEMS (60 POINTS) 1. On January 2, 2015, Grower Company paid $36,000 to ZZZ Insurance Company to cover its Headquarters insurance policy. The insurance policy covers 3 years. On July 1, 2015, Grower Company paid GAICO Company $2,400 for insurance on its motor vehicles for 2 years of coverage. Required: a. Prepare General Journal entries to 'record the two purchases.
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