Business, 15.07.2020 02:01 asharrogers17
A company makes a payment of $3,960 towards one-year insurance premium on March 1.
a-1. Use the horizontal model to record the above transaction.
(Use amounts with + for increases and amounts with β for decreases.)
Balance Sheet Income Statement
Assets = Liabilities + Stockholders' Equity β Net Income = Revenues - Expenses
= + β = -
= + β = -
a-2. Write the journal entry to record the above transaction. (If no entry is required for a transaction/event, select No journal entry required" in the first account field.)
Journal Entry Worksheet
Record the payment of a one-year insurance premium.
Date General Journal Debit Credit
Mar 01
Enter debits before credits
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A company makes a payment of $3,960 towards one-year insurance premium on March 1.
a-1. Use the hor...
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