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On December 31, 2019, Coolwear, Inc. had a balance in its prepaid insurance account of $48,400. During 2021, $86,200 was paid for insurance. At the end of 2021, after adjusting entries were recorded, the balance in the prepaid insurance account was $42,000. Insurance expense for 2021 was:
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On December 31, 2019, Coolwear, Inc. had a balance in its prepaid insurance account of $48,400. Duri...
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