Multiple Choice
The fiscal year opened for Noland Manufacturing with a $2,700 balance in its prepaid insurance account.They purchased $9,600 in insurance policies during the year.If $1,725 of insurance has expired during the year, what is the year-end balance in the prepaid insurance account?
A) $10,575
B) $12,300
C) $7,875
D) $5,175
Correct Answer:
Verified
Correct Answer:
Verified
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