Reference no: EM13492915
Midwest Manufacturing purchased a three-year insurance policy for $30,000 on January 2, 2009. Assume the January 2, 2009, balances in T-accounts for prepaid insurance, insurance expense, cash, and retained earnings were $0, $0, $90,000, and $80,000, respectively.
Required:
Prepare journal entries, adjusting journal entries, and closing journal entries required on January 2, 2009, December 31, 2009, and December 31, 2010.(Omit the "tiny_mce_markerquot; sign in your response.)
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Prepare journal entries and adjusting journal entries
: Prepare journal entries, adjusting journal entries, and closing journal entries required on January 2, 2009, December 31, 2009, and December 31, 2010.(Omit the "tiny_mce_markerquot; sign in your response.)
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