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    kimmiles1234's Avatar
    kimmiles1234 Posts: 1, Reputation: 1
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    #1

    May 1, 2016, 12:58 PM
    School help.
    On April 10th "The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11."
    How do I post this to adjusting entries.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    May 3, 2016, 03:29 PM
    Calculate the prepaid proportion based on the number of days remaining at the close of the accounting period and debit the balance to expense
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