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  3. a. prepaid insurance. the prepaid insurance accoun

a. Prepaid Insurance. The Prepaid Insurance account has a $6,200 debit balance to start the...

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Accounting

a. Prepaid Insurance. The Prepaid Insurance account has a $6,200 debit balance to start the year. A review of insurance
policies shows that $1,650 of unexpired insurance remains at year-end.
b. Prepaid Insurance. The Prepaid Insurance account has a $7,390 debit balance at the start of the year. A review of insurance
policies shows $1,640 of insurance has expired by year-end.
c. Prepaid Rent. On September 1 of the current year, the company prepaid $42,000 for two years of rent for facilities being
occupied that day. The company debited Prepaid Rent and credited Cash for $42,000.
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