Wilson Company paid insurance premiums for four months in advance on November 1. The balance in the prepaid insurance account before adjustment at the end of the year is $6,200, and no adjustments had been made previously. The adjusting entry required on December 31 is: ATTACHMENT PREVIEW Download attachment Screenshot 2016-02-27 at 15.04.03.png
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Wilson Company paid insurance premiums for four months in advance on November 1.
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