accounting i chapter 3 exercise 3 5

accounting i chapter 3 exercise 3 5

On July 1, 2014, Dobbs Co. pays $22,800 to Kalter Insurance Co. for a 3-year insurance contract. Both  companies have fiscal years ending December 31. For Dobbs Co., journalize and post the entry on July 1 and the adjusting entry on December 31.

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