Use the Information Provided to Calculate the Cash Paid for Insurance

Essay

Use the information provided to calculate the cash paid for insurance for the period
$\begin{array}{|l|c|}\hline \text { Prepaid insurance, beginning-year.......... } & 7,000 \\\hline \text { Insurance expense............. } & 16,800 \\\hline \text { Prepaid insurance, year-end. } & 3,400 \\\hline\text { Cash paid for insurance.. }\\\hline\end{array}$