Asked by Johsua
For the following entry, should I journalize that entry on the purchased date or on Oct. 1st?
Sept 29, 2009 Purchased a one-year public liability insurance policy for $5,000.
The policy becomes effective at 12:01 a.m. October 1, 2009.
Sept 29, 2009 Purchased a one-year public liability insurance policy for $5,000.
The policy becomes effective at 12:01 a.m. October 1, 2009.
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