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Make the adjusting entry required at the end of the year

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Question - The prepaid insurance account had a beginning balance of $3,565 and was debited for $6,960 of premiums paid during the year.

Make the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $2,900. Refer to the Chart of Accounts for exact wording of account titles.

Reference no: EM132605664

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