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Prepare necessary adjusting entry for solid systems company

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Reference no: EM132756667

The unadjusted trial balance of the Solid Systems Company as of December 31, 2019 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Solid Systems Company.

Problem 1: The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, 2019. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any.

 

Reference no: EM132756667

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