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Prepare Marins August journal entry

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Question - On August 1, Marin Inc. paid $12,576 for an insurance policy that is for two years and is effective August 1.

Prepare Marin's August 1 journal entry and the December 31 adjusting entry, treating the expenditure as an asset.

Prepare Marin's August 1 journal entry and the December 31 adjusting entry, treating the expenditure as an expense.

Reference no: EM132562295

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