10 Nov Arnez Company’s annual accounting period ends on D
Arnez Company’s annual accounting period ends on December 31, 2017 The following information concerns the adjusting entries to be recorded as of that dateRecord the adjusting entry related to the company’s insuranceAn analysis of the company’s insurance policies provided the following factsPolicy Date of Purchase Months of Coverage CostA April 1, 2015 24 months $11,400B April 1, 2016 36months 10,224C August 1, 201712 months 9,000The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years)
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