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On October 4, Yazici Advertising Inc. paid 600 for a one-year fire insurance policy. Coverage began on October 1. Yazici recorded the payment by increasing

On October 4, Yazici Advertising Inc. paid 600 for a one-year fire insurance policy. Coverage began on October 1. Yazici recorded the payment by increasing (debiting) Prepaid Insurance. This account shows a balance of 600 in the October 31 trial balance. Insurance of 50 (600 12) expires each month. why is the answer 50?

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