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Adjustment for Insurance Assignment | Top Universities

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February 21st, 2020

Adjustment for Insurance On July 1, a six-month liability insurance policy was purchased for $750. Analyze the required adjustment as of July 31 using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated TB.) (Balance Sheet) Prepaid Insurance 750 Adj. X TBV Bal. (Income Statement) Insurance Expense. Get Accounting Homework Help Today.

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