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Question: chapter 2 problem 3 prepaid insurance on april 1 2019...

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Chapter 2 Problem 3 Prepaid Insurance On April 1 2019, Flavin Co. paid $12,000 cash for an insurance policy that provides coverage for one year beginning immediately. On December 31, Flavin adjusted the books to recognize the amount of the insurance policy used during the year. a. What would be the amount of the adjustment (on expense account)? b. What would be the the prepaid insurance
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