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The Prepaid Insurance account shows the following on November 30: Beginning balance $4,720 July 1 4,200 October 1 7,272 The beginning balance represents a one-year
- The Prepaid Insurance account shows the following on November 30:
Beginning balance $4,720 July 1 4,200 October 1 7,272
The beginning balance represents a one-year policy purchased in September of the PREVIOUS year. The July 1 entry represents a new one-year policy, and the October 1 entry represents additional coverage in the form of a three-year policy.I need help finding the debit and credit for insurance ex. and prepaid insurance
| Beginning balance | $4,720 |
| July 1 | 4,200 |
| October 1 | 7,272 |
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
