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Posted on Jul 27, 2024

Aiden Yoon paid the fire insurance premium of $3,000 for the Yoon Caf on June 27 th . The insurance coverage is from July 1

Aiden Yoon paid the fire insurance premium of $3,000 for the Yoon Caf on June 27^th. The insurance coverage is from July 1^stthrough December 31^st. Monthly financial statements are prepared for the Yoon Caf.

1) Based on the information above, what is the amount of insurance expense for June?

The answer is not $3,000.

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