Ibtisam Saif Al Julandani The following information relates to the Muscat Company at the end...
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Accounting
Ibtisam Saif Al Julandani The following information relates to the Muscat Company at the end of 2019. The accounting period is the calendar year. An insurance policy of OMR 8,000 was paid on April 1, 2019, and was charged to Prepaid Insurance. The policy covers a 24-month period beginning April 1, 2019. If financial statements are to be prepared on December 31, the company should make the following adjusting entry: Select one: 6,000 a. Insurance Expense Prepaid Insurance 6,000 b. None of the answers are correct 6.000 6,000 3.000 C Insurance Expense Insurance Payable. d. insurance Expense Prepaid Insurance e. No entry is required 3,000 Nad pe ENG
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