W 2-0 = DQ3 (1) - Microsoft Word (Product Activation Failed) File Home Insert Page Layout References Mailings Review View ? Cut Calibri (Body) - 11 - A A : SET 1 T AaBbCcDc Aabbccdc AaBbci AaBbcc AaB AaBb Cel AaBbccdi A# Find BIU - abe x x 1 Normal 1 No Spaci... Heading 1 Ea Copy Paste Format Painter Clipboard Heading 2 Title Subtitle Subtle Em... Change Styles 2 Replace Select Editing Font Paragraph Styles ''T''XIIIIIIIIIIIIIIIIIIIII!!!!!!!!!!!!!!!!!!!!!!!!!! L On January 1, 2015, Genesis limited signed up for an Insurance package. The annual charge is $1,500,000 payable in equal amounts at the beginning of each quarter. Electricity expense for the year amounts to $900,000 and is to be paid in three equal amounts throughout the year. Analysis of the company's records indicated that the following payments were made: Insurance Payments Electricity Payments January 2, 2015- $375,000 cash January 5, 2015 $300,000 cash April 3, 2015-$375,000 cash May 3, 2015-$300,000 cash July 8, 2015- $375,000 cash Sept 6, 2015- $600,000 cash January 25, 2016- $750,000 cash If you were the accountant for Genisis Limited, how would you record this information in the Insurance and Electricity Account? Briefly explain the debit and credit entries that you made. !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! #O+ Page: 1 of 1 Words: 128 DE 3 100% - O Type here to search . 9:38 PM 7/20/2020