Question: On December 1 , 2 0 2 3 , the company paid its annual fire insurance premium of $ 7 , 5 0 0 for

On December 1,2023, the company paid its annual fire insurance premium of $7,500 for the year beginning December 1 and debited insurance expense at the time of payment. Prepare the necessary adjusting entry on June 30,2024.
Note: Enter debits before credits.
\table[[S.No/Date,Account Title,Debit,Credit],[1,Prepaid insurance,,],[,Insurance expense,,],[,,,],[,,,]]
On December 1 , 2 0 2 3 , the company paid its

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