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The fiscal year opened for Noland Manufacturing with a $2,700 balance in its prepaid insurance account. They purchased $9,600 in insurance policies during the year.

The fiscal year opened for Noland Manufacturing with a $2,700 balance in its prepaid insurance account. They purchased $9,600 in insurance policies during the year. If $1,725 of insurance has expired during the year, what is the year-end balance in the prepaid insurance account? A. $5,175 B. $10,575 C. $12,300 D. $7,875

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