Multiple Choice
At December 31, 2014, before any year-end adjustments, Fawcett Foundry Company's Insurance Expense account had a balance of $725 and its Prepaid Insurance account had a balance of $2,900. It was determined that $1,500 of the Prepaid Insurance had not expired. The adjusted balance for Insurance Expense for the year would be
A) $1,500.
B) $2,125.
C) $2,225.
D) $1,125.
Correct Answer:
Verified
Correct Answer:
Verified
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