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Q3. Record the following transactions in the desired manner and give the adjusting entry on December 31, 2016. (Two entries for each part. 1. An

Q3. Record the following transactions in the desired manner and give the adjusting entry on December 31, 2016. (Two entries for each part.

1. An insurance policy for two years was acquired on April 1, 2016 for $8,000.

2. on NOV. 30 the company reveived $ 10000 cash aginst services to be provided in december 31. On that date service provided to the customer

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