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GIVE DETAILED EXPLANATIONS The payment of an insurance premium of $2, 340 for a three...

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Accounting

GIVE DETAILED EXPLANATIONS

The payment of an insurance premium of $2, 340 for a three year policy was debited to prepaid insurance for $3, 240 and credited to cash for $3, 240. If the totals on the trial balance are not equal, by how much is one column higher than the other?

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