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Author Question: Tumbler, Inc. bought a 3-year insurance policy on August 1 for $3,900. Assume no other adjusting ... (Read 107 times)

renzo156

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on: Feb 18, 2020
Tumbler, Inc. bought a 3-year insurance policy on August 1 for $3,900. Assume no other adjusting entries have been done this fiscal year. The adjusting entry on December 31 would be:
◦ debit Insurance Expense, $108; credit Prepaid Insurance, $108.
◦ debit Insurance Expense, $542; credit Prepaid Insurance, $542.
◦ debit Prepaid Insurance, $108; credit Insurance Expense, $108.
◦ debit Prepaid Insurance, $542; credit Insurance Expense, $542.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by renzo156 on Feb 18, 2020

tuate

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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renzo156

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Reply 2 on: Feb 18, 2020
YES! Correct, THANKS for helping me on my review

apple

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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