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What would the entry be to record issuing the check

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Question - A property is taken over on January 1st and the client asks that the accrual basis method is used. On January 1st. a check is issued for the insurance premium of $12,000 which covers the period of January 1st to December 31st. What would the entry be to record issuing the check for $12,000?

Then, would a monthly journal entry be required based on how you set up the property insurance journal entry and what would that look like?

Reference no: EM132496993

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