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On June 1, 2019, a firm purchased a 1-year insurance policy for $8,700 and paid the full premium in advance. The insurance expense associated with

On June 1, 2019, a firm purchased a 1-year insurance policy for $8,700 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is

Multiple Choice $2,900. $5,075. $8,700. $5,800.

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