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AutoStyle Group's prepaid insurance was $7,500 at December 31, 2020, and $11,500 at December 31, 2021. AutoStyle reported insurance expense of $17,500 on the
AutoStyle Group's prepaid insurance was $7,500 at December 31, 2020, and $11,500 at December 31, 2021. AutoStyle reported insurance expense of $17,500 on the 2021 income statement. What amount would be reported in the statement of cash flows as insurance paid using the direct method? Multiple Choice $21.500 $13.500 $25,000. $17,500
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Financial Accounting
Authors: David Spiceland, Wayne Thomas, Don Herrmann
4th edition
1259307956, 978-1259307959
