Data Ltd uses accrual accounting and its financial year ends on 30 June.Expenses paid in advance are treated as assets.On 1 May 2016,Data Ltd pays $480 for a one-year fire insurance policy that expires on 30 April 2017.
-What is the journal entry made by Data Ltd on 30 June 2016?
Definitions:
Interbreed
The mating or breeding between different species, breeds, or varieties to produce hybrid offspring.
Species
A collection of similar living entities that can exchange genetic material or mate with each other.
Life History Traits
The series of strategies and features that define an organism's lifecycle, including birth, growth, reproduction, and death.
Predation
The action of preying on other organisms for food.
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