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The date of the financial statement is 12/31. What is the adjusting journal on 12/31 for the following transaction: A total of $10,000 was paid
The date of the financial statement is 12/31. What is the adjusting journal on 12/31 for the following transaction: A total of $10,000 was paid for a 5 month insurance policy on November 1.
- A. Debit Insurance Expense $4,000
- B. Debit Prepaid Insurance $4,000
- C. Debit to Cash of $10,000
- D. Credit Cash $4,000
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Cengage Learnings Online General Ledger For Heintz/parrys College Accounting, 2, 2 Terms (12 Months)
Authors: James A. Heintz, Robert W. Parry
22nd Edition
1305669991, 9781305669994
