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QUESTION 13 Prepaid Insurance On 04/01/23, XYZ company purchased a two year insurance policy for $18,000. XYZ Company debited Prepaid Insurance and credited Cash

QUESTION 13 Prepaid Insurance On 04/01/23, XYZ company purchased a two year insurance policy for $18,000. XYZ Company debited Prepaid Insurance and credited Cash Required: Record the adjusting entry necessary at 12/31/23 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BI U S Paragraph Arial 10pt v ALI " 4 points

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