required A and B

not necessary to do c

if good i will give thumbs up, thanks

Exercise 5.9 (Static) Distinction between the Adjusting and the Closing Process (LO5-2, LO5.4) When Torretti Company bogan business on August it purchased a one-year fire Insurance policy and debited the entire cost of $7200 to Unexpired insurance Torretti adjusts its accounts at the end of each month and closes its books at the end of the year. a. Prepare the adjusting entry required at December 31 with respect to this insurance policy b. Prepare the closing ontiyroquired at December 31 with respect to insurance expense Acoume that this policy is the only insurance policy Torror had during the year c Compare the dollar amount appearing in the December 31 adjusting entry court a) with that in the closing entry (part b). Are the dolar amounts the same? Complete this question by entering your answers in the tabs below. Required Required Reuwe Prepare the adjusting entry required at December 31 with respect to this murance paliw ng entry is required for a transaction/even Select a journal or the first counted Vow transaction et Journal entry worksheet 1 Record the insurance expense for December Transatlan Coneral Journal C Dool by Viewer