luvianojackie4272 luvianojackie4272

08-07-2017
Business

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What is the proper adjusting entry at june 30, the end of the fiscal year, based on a prepaid insurance account balance before adjustment, $18,500, and unexpired amounts per analysis of policies of $6,000?

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Aliwohaish12 Aliwohaish12

08-07-2017

Debt insurance expenses 6000
Credit prepaid insurance 6000

prepaid insurance account balance after adjustment is
18,500−6,000=12,500

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