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On July 1, a company paid the $2,640 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance

On July 1, a company paid the $2,640 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the current year ended December 31?

a. $1,320 b. $2,640 c. $660 d. $1,980

e. $1,100

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