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The bookkeeper advised you that $7,392 paid to InsuranceCo on 19th July 2019 for business insurance was for the 12 months to the end of

The bookkeeper advised you that $7,392 paid to InsuranceCo on 19th July 2019 for business insurance was for the 12 months to the end of June 2020.

You are required to show a manual journal entry to adjust the insurance expenses claimed for the month of July 2019 and the remainder to Prepayments.

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