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The prepaid insurance account has a debit balance of $3600
at the end of the year. If unexpired insurance at the end
of the year is $2800, the amount of insurance expense that
should be reported on the income statement is?
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Answer Posted / shi
Insurance Exp. $800 DR
Prepaid Insurance $800 CR
| Is This Answer Correct ? | 10 Yes | 1 No |
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