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29. Ben company paid $1,200 for insurance on May 1 20x2. The insurance is cover...

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Accounting

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29. Ben company paid $1,200 for insurance on May 1 20x2. The insurance is cover July 1 20x2 to June 30 20x3. What is the Journal Entry May 1 20x2 Dr. Prepaid Insurance $ Cr. Dec 31 20x2 Dr. Cr. $ June 30 20x3 Dr. Cr. $

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