When JP Corp pays insurance premiums, the transaction is recorded as a debit to prepaid insurance. Additional information for the year e December 31 is as follows:

00:46:50

Prepaid insurance at January 1 $ 50,500

Insurance expense recognized during the year 219,550

Prepaid insurance at December 31

62,650

What was the total amount of cash paid by JP Corp for insurance premiums during the year?