fill the charts solve nfr.un o n https/edugen.wileyplus.co . Careers and Career

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fill the charts solve

nfr.un o n https/edugen.wileyplus.co . Careers and Career I Charles Schw Web Slice Gallery GobiernoUSAgov Play Free Games Suggested Sites Baseball Tutorials Me yPLUS weygandt, financial Accounting, 10e ead, Study & Practice Gradebook ORION Downloadable eTextbook nt Open Assignment CALCULATOR MESSAGE MY INST ENT CES Brief Exercise 3-5 On July 1, 2019, Pharoah Company pays $26,100 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have f For Pharoah Company, journalize and post the entry on July 1 and the annual adjusting entry on December 31. (Credit account titles are automat entries in the order presented in the problem.) Credit rcise 3-8 rise 3s3 Date Account Titles Debit bism 3-22 ew Score ew Results by dy Obiective Prepaid Insurance ce Expense Question Attempts: 0 c

Explanation / Answer

Date General Journal Debit Credit 1-Jul Prepaid Insurance 26100 Cash 26100 31-Dec Insurance Expense 4350 Prepaid Insurance 4350 26100*1/2*1/3 Prepaid Insurance 1-Jul 26100 31-Dec 4350 31-Dec 21750 Insurance Expense 31-Dec 4350 Interest for 1 year = 26100/3 =8700 Interest for 1 july to 31 dec = 6months int = 8700*6/12 = 4350

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