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Embree corp., purchased a four
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Embree corp., purchased a four

User Fazil Abdulkhadar
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1 Answer

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Answer:

Embree Corp. purchased a​ four-year insurance policy on May​ 1, Year​ 2, for​ $12,000, effective immediately. The company expensed the full cost of the policy in Year 2. The correct journal entry for Year 2​ (ending December​ 31) will include​ a:

Step-by-step explanation:

Debit to prepaid insurance of​ $10,000.

User RichardHowells
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