The business paid insurance premium of P 4,500 covering 6 months starting October 1, 2014. The balance

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The business paid insurance premium of P 4,500 covering 6 months starting October 1, 2014. The balance sheet date of the business is December 31, 2014.

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Prepare the adjusting entry if the payment was initially recorded as an asset.

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Fundamental Accounting Principles

ISBN: 9781260247985

25th Edition

Authors: John J Wild, Ken Shaw

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Posted Date: Jun 03, 2023 06:40 AM

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The business paid insurance premium of P 4,500 covering 6 months starting October 1, 2014. The balance

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Since the insurance premium payment of P4500 was made for 6 months starting ... View the full answer

Fundamental Accounting Principles

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