Business, 17.02.2020 23:31 babiibri4771

Mountaineer excavation operates in a low-lying area that is subject to heavy rains and flooding. because of this, mountaineer purchases one year of flood insurance in advance on march 1, paying $36,000 ($3,000/month).
Required:
1. Recore the purchase of insurance in advance on March,1.
1. Record the adjusting entry on December, 31.

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Mountaineer excavation operates in a low-lying area that is subject to heavy rains and flooding. bec...

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