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Business, 05.02.2020 03:47 gesic2003

Acompany paid $1500 cash for an insurance policy providing flood protection for a three-year period. this transaction should be recorded by which of the following entries:

a) $1500 debit to accrued expense and a $1500 credit to cash.

b)$1500 debit to unexpired insurance and a $1500 credit to cash.

c)$1500 debit to withdrawals and a $1500 credit to cash.

d)$1500 debit to accounts payable and a $1500 credit to cash.

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Acompany paid $1500 cash for an insurance policy providing flood protection for a three-year period....
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