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The prepaid insurance account had a beginning balance of $8,310 and was debited for $840 for premiums paid during the year. Required: Joumalize the adjusting

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The prepaid insurance account had a beginning balance of $8,310 and was debited for $840 for premiums paid during the year. Required: Joumalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods Refer to the Chart of Accounts for exact wording of account titles

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