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    smking's Avatar
    smking Posts: 2, Reputation: 1
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    #1

    Mar 28, 2008, 05:54 AM
    Preparing adjusting entries
    One-third of the work related to 15,000 cash received in advance is performed this period
    smking's Avatar
    smking Posts: 2, Reputation: 1
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    #2

    Mar 28, 2008, 06:09 AM
    The prepaid insurance account had a 6,000 debit balance at December 31,2008 before adjusting for the cost of any expired coverage. An analysis of the company's insurance policies showed that 1,100 of unexpired insurance coverage remains.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #3

    Mar 28, 2008, 01:28 PM
    Dr. Unearned Revenue 5,000
    Cr. Revenue 5,000

    Dr. Insurance Expense 4,900
    Cr. Prepaid Insurance 4,900
    derenda's Avatar
    derenda Posts: 24, Reputation: -2
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    #4

    Jan 28, 2009, 11:43 AM
    Quote Originally Posted by CaptainForest View Post
    Dr. Unearned Revenue 5,000
    Cr. Revenue 5,000

    Dr. Insurance Expense 4,900
    Cr. Prepaid Insurance 4,900
    Don't want seem dumb but how did you get that answer
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