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    Financial Accounting Study Set 1
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    Exam 3: Adjusting and Closing Entries
  5. Question
    Rick Company Bought a 2-Year Insurance Policy on August 1
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Rick Company Bought a 2-Year Insurance Policy on August 1

Question 50

Question 50

Essay

Rick Company bought a 2-year insurance policy on August 1 for $150 per month. Prepare the adjusting entry on December 31.

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