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Selected balance sheet information for the Wolf Company at the 12/31/2015 and 12/31/2016 is presented below: 12/31/2016 12/31/2015 Prepaid Insurance: $3,500 $2,900 Assume that all
Selected balance sheet information for the Wolf Company at the 12/31/2015 and 12/31/2016 is presented below:
12/31/2016 12/31/2015
Prepaid Insurance: $3,500 $2,900
Assume that all insurance is prepaid. If the income statement reports insurance expense for the period of $10,800, then the statement of cash flows should report cash payments for insurance during the period of
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