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On August 1, 2019, a firm purchased a 1-year insurance policy for $4,500 and paid the full premium in advance. The insurance expense associated with

On August 1, 2019, a firm purchased a 1-year insurance policy for $4,500 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is

Multiple Choice $4,500. $1,875. $1,500. $2,625.

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