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On August 1, a Company Paid the $2,400 Premium on a One-Year

Question 149

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On August 1, a company paid the $2,400 premium on a one-year insurance policy with benefits beginning on that date. Assuming no previous adjustments have been made for the expired insurance, the correct adjusting entry on December 31 would be:


A) On August 1, a company paid the $2,400 premium on a one-year insurance policy with benefits beginning on that date. Assuming no previous adjustments have been made for the expired insurance, the correct adjusting entry on December 31 would be: A) B) C) D) E)
B) On August 1, a company paid the $2,400 premium on a one-year insurance policy with benefits beginning on that date. Assuming no previous adjustments have been made for the expired insurance, the correct adjusting entry on December 31 would be: A) B) C) D) E)
C) On August 1, a company paid the $2,400 premium on a one-year insurance policy with benefits beginning on that date. Assuming no previous adjustments have been made for the expired insurance, the correct adjusting entry on December 31 would be: A) B) C) D) E)
D) On August 1, a company paid the $2,400 premium on a one-year insurance policy with benefits beginning on that date. Assuming no previous adjustments have been made for the expired insurance, the correct adjusting entry on December 31 would be: A) B) C) D) E)
E) On August 1, a company paid the $2,400 premium on a one-year insurance policy with benefits beginning on that date. Assuming no previous adjustments have been made for the expired insurance, the correct adjusting entry on December 31 would be: A) B) C) D) E)

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