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The insurance expense account was debited for $3,680 during the year. An examination of insurance policies shows $680 of insurance expired. Insurance paid during the
- The insurance expense account was debited for $3,680 during the year. An examination of insurance policies shows $680 of insurance expired.
- Insurance paid during the year amounted to $2,400. An examination of insurance policies at year end shows $2,000 of unexpired insurance.
Create adjusting journal entries for these two questions.
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