What diary passage is proper at time real installment made

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The Lawndale Company pays $700 for protection inclusion got in the course of the last not many months. For this situation, however, the sum has just been perceived by the organization. Both the protection cost and a protection payable were recorded as brought about. Hence, the sums can be seen on the preliminary equilibrium in. Evidently, Lawndale's bookkeeping framework was intended to perceive this specific cost as it developed over the long run.

Problem 1: When a cost has been recorded, what diary passage is proper at the time real installment is made?

Reference no: EM132825721

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