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Business, 12.06.2021 19:20 Fireburntbudder

On July 1, 2020, Pearl Co. pays $13,620 to Martinez Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Martinez Insurance Co. Martinez uses the accounts Unearned Service Revenue and Service Revenue.

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On July 1, 2020, Pearl Co. pays $13,620 to Martinez Insurance Co. for a 3-year insurance policy. Bot...
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