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Riverrun Co. provides medical care and insurance benefits to its retirees. In the current year,...

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Accounting

Riverrun Co. provides medical care and insurance benefits to its retirees. In the current year, Riverrun agrees to pay $5,500 for medical insurance and contribute an additional $9,000 to a retirement program. Record the entry for these accrued (but unpaid) benefits on December 31.

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