Multiple Choice
At December 31, 2014, before any year-end adjustments, Cable Car Company's Insurance Expense account had a balance of $1,450 and its Prepaid Insurance account had a balance of $3,800. It was determined that $3,200 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be
A) $3,200.
B) $1,450.
C) $4,650.
D) $2,050.
Correct Answer:
Verified
Correct Answer:
Verified
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