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Ardvark Inc spent $74,000 on insurance during X1. The CFO of Ardvark noted that insurance payable was $5,000 on January 1, X1 and $8,000 on
Ardvark Inc spent $74,000 on insurance during X1. The CFO of Ardvark noted that insurance payable was $5,000 on January 1, X1 and $8,000 on December 31, X1. Ardvark's prepaid insurance account reported balances of $12,000 and $7,000 on January 1 and December 31, respectively. How much did Ardvard pay for insurance during X1?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
