Stahl Company paid $7,800 on May 1,2012 for insurance coverage for a one year period beginning that date.The adjusting entry required to recognize insurance expense on December 31,2012 would have what effect on the financial statements?

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The Answer of Stahl Company paid $7,800 on May 1,2012 for insurance coverage for a one year period beginning that date.The adjusting entry required to recognize insurance expense on December 31,2012 would have what effect on the financial statements?

Stahl Company Paid $7,800 on May 1,2012 for Insurance Coverage