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Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before...

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Accounting

Adjusting Entries for Prepaid Insurance
The balance in the prepaid insurance account, before adjustment at the end of the year, is $13,690.
Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment:
If an amount box does not require an entry, leave it blank.
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a. The amount of insurance expired during the year is $10,400.
Blank (1) Blank (2)
Question Content Area
b. The amount of unexpired insurance applicable to future periods is $3,290.
blank (1) blank (2)

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