The prepaid insurance account had a beginning balance of $6,000 and was debited for $12,500 of premiums
Question:
The prepaid insurance account had a beginning balance of $6,000 and was debited for $12,500 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $13,000.
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Related Book For 
Financial And Managerial Accounting
ISBN: 9780357714041
16th Edition
Authors: Carl S. Warren, Jefferson P. Jones, William Tayler
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