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Compute the adjusting entry required on december

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Question - Harrod Company paid $4,800 for a 4-month insurance premium in advance on November 1, with coverage beginning on that date. The balance in the prepaid insurance account before adjustment at the end of the year is $4,800 and no adjustments had been made previously. Compute the adjusting entry required on December 31?

Reference no: EM132193995

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