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 $10,560 was purchased on November 1 of the current year. Record the transaction for the year ended December 31. The unadjusted balance of Office Supplies at Dec. 31 is $4,800 and at year end the office supplies on hand totaled $1,700

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