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harra harra
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6 years ago
Lynnwood Services prepaid six months of insurance in advance on July 1, 2014. Lynnwood Services debited insurance expense for the entire amount of $12,000. The adjusting entry on December 31, 2014, would include:
A) a debit to prepaid insurance for $6,000.
B) a debit to prepaid insurance for $12,000.
C) a credit to insurance expense for $12,000.
D) No adjustment is necessary on December 31, 2014.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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raovatallpyraovatallpy
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6 years ago
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harra Author
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#2
6 years ago
thank you × a million
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