On july 1 2005 blair co pays 18000 to hindi insurance co


1. On July 1, 2005, Blair Co. pays $18,000 to Hindi Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Blair Co. journalize the entry on July 1 and the adjusting entry on December 31. 

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Accounting Basics: On july 1 2005 blair co pays 18000 to hindi insurance co
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