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Journalize adjusting entry to record insurance

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Reference no: EM132679994

Problem - Adjusting entries - Holly Company purchased a two-year insurance policy on January 2, 2012, for $1,800.

Required -

a. Journalize in a spreadsheet (spreadsheet labeled J5) the adjusting entry to record insurance expired for the year on December 31, 2012.

b. Post the adjusting entry to the four-column general ledger on the GL worksheet.

Reference no: EM132679994

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