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XYZ Company records its adjusting entries at the end of every month. The following accounts...

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Accounting

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XYZ Company records its adjusting entries at the end of every month. The following accounts were taken from XYZ Company's adjusted trial balance at January 31, 2029: The prepaid insurance shown above relates to a policy that, when purchased, was a 3-year policy. Assume XYZ Company has a year-end of December 31 . Calculate the number of months of the insurance policy that have expired (i.e., been used up)

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