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serious [3.7K]
3 years ago
15

What is the proper adjusting entry at june 30, the end of the fiscal year, based on a prepaid insurance account balance before a

djustment, $18,500, and unexpired amounts per analysis of policies of $6,000?
Business
1 answer:
blagie [28]3 years ago
6 0
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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