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Business, 16.07.2020 19:01 adantrujillo1234

Albinson Company paid $96,000 for a two-year insurance policy on October 1 and recorded the $96,000 as a debit to Prepaid Insurance and a credit to Cash. What adjusting entry should Albinson make on December 31, the end of the accounting period (no previous adjustment has been made)

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Albinson Company paid $96,000 for a two-year insurance policy on October 1 and recorded the $96,000...

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