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HOO COMPANY has a fiscal year end of December 3 1 . The company purchased a one - year insurance policy on September 1 .

HOO COMPANY has a fiscal year end of December 31. The company purchased a one-year insurance policy on September 1. If the balance in the Prepaid Insurance account (after adjusting entries were posted) was $8,000, how much did HOO pay for the insurance policy?

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