Allen Corporation Is Completing the Accounting Information Processing Cycle at the End

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\begin{array}{|l|l|c|c|}\hline && ext { Debit }& ext { Credit }\\hline & ext { Trade receivables } & 300 & \\hline & \begin{array}{l} ext { Services Revenues } \ ext { (Services were provided to customers during } \ ext { the year which has not been collected or } \ ext { recorded) }\end{array} & & 300 \\hline ext { b. } & ext { Insurance Expense } & 400 & \\hline & \begin{array}{l} ext { Prepaid Insurance } \ ext { (Insurance expired during the year) }\end{array} & & 400 \\hline ext { c. } & ext { Depreciation Expense } & 5,500 & \\hline & \begin{array}{l} ext { Accumulated depreciation } \ ext { (Depreciation on equipment during 20X2) }\end{array} & & 5,5 00\\hline ext { d. } & ext { Wages } & 300 & \\hline & \begin{array}{l} ext { Wages Payable } \ ext { (Wages earned during } 20 imes 2 ext { but not yet } \ ext { recorded paid) }\end{array} & &300 \\hline\end{array}

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