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Record for corporation required adjusting journal entries

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Question - Record for High Corporation the required adjusting journal entries on December 31, 2020 for the below transactions.

On Jan 1, 2020, purchased a machine for $7,650. The van will have a useful life of 6 years. 

On Aug 1, 2020, collected $8,256 as advance from a customer for services it will provide over the next 12 months.

On Sept 1, 2020, paid $23,000 for a one year insurance policy.

Reference no: EM133052553

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