Account for insurance expense. (LO 1, 3) Precore Company began the year with ($ 6,500) prepaid insurance.
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Account for insurance expense. (LO 1, 3)
Precore Company began the year with \(\$ 6,500\) prepaid insurance. During the year, Precore prepaid additional insurance premiums amounting to \(\$ 8,000\). The company's insurance expense for the year was \(\$ 10,000\). What is the balance in prepaid insurance at year-end?
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