A company pays its insurance on an annual basis the

Reference no: EM13485735

A company pays its insurance on an annual basis. The insurance premiums are $18,000 per year. The insurance coverage begins with the payment of the premium on August 1,2013. The insurance coverage runs through July 31, 2014. Prepare the adjusting entry required on December 31, 2013.

Reference no: EM13485735

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