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The prepaid insurance account had a beginning balance of $6,530 and was debited for $2,610...

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Accounting

The prepaid insurance account had a beginning balance of $6,530 and was debited for $2,610 of premiums paid during the year.

Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $3,840.

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