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The prepaid insurance account had a beginning balance of $7,200 and was debited for$4,800 of premiums paid during the year. Journalize the adjusting entry required

The prepaid insurance account had a beginning balance of $7,200 and was debited for$4,800 of premiums paid during the year. Journalize the adjusting entry required at the end of the year assuming the amount of unexpired insurance related to future periods is $8,000

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