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Post the entry on july and the adjusting entry on december

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On July 1, 2019, Oriole Co. pays $28,900 to Sheffield Insurance Co. for a 4-year insurance contract. Both companies have fiscal years ending December 31.

Problem 1: For Oriole Co., journalize and post the entry on July 1 and the adjusting entry on December 31

Reference no: EM132813251

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