Prepare the journal entry on july 1


On July 1, 2011, Spahn Co. pays $19,350 to Randle Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. Prepare the journal entry on July 1 and the adjusting entry on December 31 for Randle Insurance Co.

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Accounting Basics: Prepare the journal entry on july 1
Reference No:- TGS0100013

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