On Decomber t a company pays $3,600 for a 36 month insurance policy. Afer one...
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Accounting
On Decomber t a company pays $3,600 for a 36 month insurance policy. Afer one month, accrual occounteng requires $ (100/3,600) of insurarke expense be reported on the income statervent ending December 31 . However, if cash basis accounting is used.s (10023,600) of insurance enpense wevild be teported at the time of purchase
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