Question: View transaction list Journal entry worksheet 2 4 5 A three-year fire insurance policy was purchased on July 1, 2018, for $12,000. The company debited

View transaction list Journal entry worksheet 2 4 5 A three-year fire insurance policy was purchased on July 1, 2018, for $12,000. The company debited insurance expense for the entire amount. Note: Enter debits before credits. Transaction General Journal Debit Credit 12,000 Insurance expense Cash Prepaid insurance 2,000 10,000 Record entry Clear entry View general journal

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