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The city of Kcool maintains an Agency Fund (AF) for its employees' insurance withholdings-Employees Insurance Deposits Fund. Koool is not self-insured. What is the entry
The city of Kcool maintains an Agency Fund (AF) for its employees' insurance withholdings-Employees Insurance Deposits Fund. Koool is not self-insured. What is the entry in the AF to record the payment of $25,000 made to the various insurance companies providing insurance coverage to the employees? Oa Debit Cash $25,000 Credit Due to Insurance Companies $25,000 Ob. Debit Payable to Insurance Companies $25,000 Credit Cash $25,000 Oc Debit Due to Kcool General Fund $25,000 Credit Cash $25,000
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