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The following information relates to Jax Corporation: Prepaid insurance, December 31, 2021....................... $142,000 Prepaid insurance, December 31, 2022....................... 180,000 Insurance expense for 2022......................................... 620,000 What

The following information relates to Jax Corporation:

Prepaid insurance, December 31, 2021....................... $142,000

Prepaid insurance, December 31, 2022....................... 180,000

Insurance expense for 2022......................................... 620,000

What was the amount of cash paid for insurance during 2022?

a.

$582,000

b.

$942,000

c.

$298,000

d.

$658,000

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