How to calculate: The prepaid insurance account had a $455debit balance at the beginning of a year;

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The prepaid insurance account had a $455debit balance at the beginning of a year; $650 of insurance premiums were paid during the year and debited to prepaid insurance; and the year-end balance sheet showed $420 of prepaid insurance. Consequently, the income statement for the year must have shown $_________ of insurance expense.

Posted Date: Jun 28, 2024 01:47 AM

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How to calculate: The prepaid insurance account had a $455debit balance at the beginning of a year;

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