Business, 21.12.2019 00:31, datgamer13

The balance in the prepaid insurance account before adjustment at the end of the year is $27,000. journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment;

(a) the amount of insurance expired during the year is $20,250;

(b) the amount of unexpired insurance applicable to futre periods is $6,750.

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The balance in the prepaid insurance account before adjustment at the end of the year is $27,000. jo...