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Question 8 (8 points) Saved On May 1, 2022 your company paid for a 12 month insurance policy. When it was paid for it was

Question 8 (8 points)\ Saved\ On May 1, 2022 your company paid for a 12 month insurance policy. When it was paid for it was accounted for as an asset. At year end you discover the adjusting entry was omitted. What account would be debited and what account would be credited in this correcting entry?

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On May 1, 2022 your company paid for a 12 month insurance policy. When it was paid for it was accounted for as an asset. At year end you discover the adjusting entry was omitted. What account would be debited and what account would be credited in this correcting entry

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