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Posted on Jul 24, 2024

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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