Question: Journalize the adjusting entry needed at December 31 for each situation. Use the Chart of Accounts to review account names! A two year insurance policy

Journalize the adjusting entry needed at December 31 for each situation.

Journalize the adjusting entry needed at December 31 for each situation. Use the Chart of Accounts to review account names! A two year insurance policy for $1,320 was purchased on November 1 of the current year. Record the transaction for the year ended December 31. Date Accounts and Explanation Debit Credit Customers were billed for $1,900 for work completed. Date Accounts and Explanation Debit Credit Depreciation for the current year includes Equipment, $1,800. Date Accounts and Explanation Debit Credit Credit

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