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[The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $3,624 on March 1, 2019.

[The following information applies to the questions displayed below.]

A company makes the payment of a one-year insurance premium of $3,624 on March 1, 2019.

a-1. Use the horizontal model to record the above transaction. (Use amounts with + for increases and amounts with for decreases.)

Balance Sheet Income Statement
Assets = Liabilities + Stockholders' Equity Net Income = Revenues Expenses

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