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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual....

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Question

Accounting

Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual.
Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each
account.
Used prepaid insurance of $1,600. The Prepaid Insurance unadjusted balance as of
December 31 is $8,500.
Adjustment Type:
Insurance Expense
Prepaid Insurance
image

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