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Prepare the adjusting entries at december

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Question - Prepaid Insurance $23,149. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on July 1, 2016, for $15,510. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2017, for $10,224. This policy has a term of 18 months.

Prepare the adjusting entries at December 31, 2017.

Reference no: EM131692595

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