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What journal entry should be made

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A corporation receives a $50,000 life insurance settlement when its vice-president dies. At that time, the cash surrender value is $3,000. What journal entry should be made?

Reference no: EM13513293

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What journal entry should be made : A corporation receives a $50,000 life insurance settlement when its vice-president dies. At that time, the cash surrender value is $3,000. What journal entry should be made?
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