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The Krug Company received $18,000 on November 1 for six month's rent in advance and recorded the transaction to the rent revenue account. The December

The Krug Company received $18,000 on November 1 for six month's rent in advance and recorded the transaction to the rent revenue account. The December 31 adjusting entry would be:

A company paid $6,000 on June 1 for a one year insurance policy and recorded the transaction to the insurance expense account. The December 31 adjusting entry would be:

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