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slavikrds [6]
3 years ago
5

A 12-month insurance policy was purchased on Dec. 1 for $4,800 and the Prepaid insurance account was initially increased for the

payment. The required adjusting journal entry on December 31 includes a: (Check all that apply.)A) credit to Prepaid insurance for $400. B) debit to Insurance expense for $400. C) credit to Insurance expense for $400. D) debit to Prepaid insurance for $400. E) debit to Insurance expense for $4,800.
Business
1 answer:
Aleks [24]3 years ago
3 0

Answer:

The correct option is B

Explanation:

A 12-month insurance policy was purchased on Dec. 1 for $4,800 and the Prepaid insurance account was initially increased for the payment. The required adjusting journal entry on December 31 that insurance expense would be debited for $400.  Therefore, the correct option amongst the given options would be option B.

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Labor market Equilibrium, the actual salary, and the equilibrium quantity of exertions traded are decided by the intersection of labor supply and labor call for. on the equilibrium actual wage, the amount of hard work provided equals the quantity of labor demanded.

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1 year ago
A rent ceiling set below the equilibrium rent
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3 years ago
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