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    Financial and Managerial Accounting Study Set 5
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    Exam 3: The Adjusting Process
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    A One-Year Insurance Policy Was Purchased on October 1, 2011
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A One-Year Insurance Policy Was Purchased on October 1, 2011

Question 54

Question 54

Essay

A one-year insurance policy was purchased on October 1, 2011 for $4,200. The adjusting entry on December 31, 2011 would be
A one-year insurance policy was purchased on October 1, 2011 for $4,200. The adjusting entry on December 31, 2011 would be

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$4,200/12 ...

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