Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 45

On November 1, Girtz Corporation purchased a six-month insurance policy from The Tomptee Agency for $4,500.
a.repare the necessary adjusting entry for Girtz Corporation on November 30, assuming it recorded the November 1 expenditure as Unexpired Insurance.
b.repare the necessary adjusting entry for The Tomptee Agency on November 30, assuming it recorded Girtz's payment as Unearned Insurance Premiums.