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April 20, 2015

Homework Help: accounting

Posted by Beverly on Sunday, July 22, 2012 at 8:18am.

A company has an insurance policy for fifty thousand dollars that is due. How is this set up when the company does not pay it in full. It is paid monthly to an insurance premium company within one year. How do we set it up on the company books? There is a note to Premium company for the whole amount of the premium.

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