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If Insurance Expense Is $7,000 and the Beginning and Ending

Question 94

Multiple Choice

If Insurance Expense is $7,000 and the beginning and ending balances of Prepaid Insurance are $1,500 and $2,000,respectively,the cash paid for insurance is:


A) $7,000.
B) $6,500.
C) $5,000.
D) $7,500.

Correct Answer:

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