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On January 1 the Prepaid Insurance account had a balance of $6000 that represented 6 months of advance payment. It is now the end of
On January 1 the Prepaid Insurance account had a balance of $6000 that represented 6 months of advance payment. It is now the end of March and there have been no adjustments to the account balance. Determine the amount of expense to record at the end of March.
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