12. Which of the following events would not require a journal entry? a Purchase of a one-year insurance policy? b Agreement to perform a service at a future date. c Performance of a service agreed to be paid on a later date. d Payment for a service performed previously.
12. Which of the following events would not require a journal entry? a Purchase of a one-year insurance policy? b Agreement to perform a service at a future date. c Performance of a service agreed to be paid on a later date. d Payment for a service performed previously.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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12. Which of the following events would not require a
a Purchase of a one-year insurance policy?
b Agreement to perform a service at a future date.
c Performance of a service agreed to be paid on a later date.
d Payment for a service performed previously.
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