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You used Excel to determine the amount of Prepaid Insurance for year 1is $2,400.At the end of Month 1,Year 1,you would credit the Prepaid Insurance
You used Excel to determine the amount of Prepaid Insurance for year 1is $2,400.At the end of Month 1,Year 1,you would credit the Prepaid Insurance account for $200 to record the adjusting entry.
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