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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
Allied, Inc. bought a 2-year insurance policy on August 1 for $3,600. The adjusting entry on December 31 would be:
A) debit Insurance Expense, $150; credit Prepaid Insurance, $150.
B) debit Prepaid Insurance, $150; credit Insurance Expense, $150.
C) debit Insurance Expense, $750; credit Prepaid Insurance, $750.
D) debit Prepaid Insurance, $750; credit Insurance Expense, $750.
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Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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7 years ago
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Massachusetts Institute of Technology
-- Accounting

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