On August 1, the company paid $72,000 cash for a four-year insurance policy. The policy went into

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On August 1, the company paid $72,000 cash for a four-year insurance policy. The policy went into effect on August 1. Make the journal entry necessary on the company’s books to record the payment for the insurance on August 1.

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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Question Posted: Dec 30, 2011 03:26 AM

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On August 1, the company paid $72,000 cash for a four-year insurance policy. The policy went into

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Accounting concepts and applications

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