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Usage of Term "UNEXPIRED INSURANCE" in accounting
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Unexpired insurance premiums amounted to $1,800 as of December 31. Prepaid Insurance: $2400.00 Insurance expanses: $900.00 Should adjustment bemade as: Prepaid Insurance: $1500.00 Insurance expanses: $900.00
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Hey guys... So what does this word unexpired insurance mean? What kind of account is it? Where do we place this in the balance sheet? Thanks in advance:o
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How do I journalize this a. Unexpired insurance at December 31, $2,700. View more questions Search
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