danielciraiz
contestada

The Okula Corporation has a one-year insurance policy that was purchased for $2,000. Three months have passed since the purchase. The adjusting entry for the insurance policy would include a

Respuesta :

Explanation:

Amount paid for 3 months = 3 month[Total amount / 12 months]

Amount paid for 3 months = 3[2000/12]

Amount paid for 3 months = $500

Books of (..... LTD)

Particular                                   Amount  Amount

Cash               A/c Debit              $500

To Prepaid insurance    A/c                          $500

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