Question: ANSWER ??? 3 14 15 16 6) We purchased an Insurance plan for 2021 on January 1, 2021 for $106,666.67. Record this 17 transaction as

ANSWER ??? 3 14 15 16 6) We purchased an Insurance plan for 2021 on January 1, 2021 for $106,666.67. Record this 17 transaction as well as the monthly journal entries for Q1 2021 (we use accrual accounting) 18 119 120 Initial Journal Entry: 121 DR 122 CR ??? 123 124 Journal Entry required for 1/31/21 Monthly Close: 125 DR ??? 126 CR ??? 127 128 Journal Entry required for 2/28/21 Monthly Close: 129 DR 130 CR ??? 131 132 Journal Entry required for 3/31/21 Monthly Close: 133 DR ??? 134 CR ??? 135 136 What is the balance remaining on the balance sheet at the end of close on 3/31/21? 137 138 139

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