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Determine what the current balance should equal

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Prepaid insurance. the prepaid insurance account has a $4700 debit balance to start. the year. a review of insurance policies shows that a $900 of unexpired insurance remains at the year-end

Problem 1: determine what that the current balance equals?

Problem 2: determine what the current balance should equal?

Problem 3: record the December 31st, adjusting entry to get from step one to step 2

Reference no: EM132820856

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