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Homework Help: account (urgent!!pls help)

Posted by michelle on Sunday, July 8, 2012 at 9:25am.

accounting question
[prepare journal entries for the year end adjustment]

A fire broke out in the office during the year. the insurance company agreed to pay compensation of $3000 to the company in December 2009.No entries for this compensation were made at the year end.This compensation of $3000 was finally received in January 2010

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