Solved: Determine amount paid in cash for insurance premiums, Accounting Basics

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Determine amount paid in cash for insurance premiums

Response to the following problem:

Eucher Hospital's 20X2 statement of operations reported insurance expense of $8,000. Its balance sheets reported prepaid insurance as follows:

12/31/X1 $1400

12/31/X2 1100

Required: What was the amount actually paid in cash for insurance premiums during 20X2?

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Accounting Basics: Determine amount paid in cash for insurance premiums

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Accounting Basics: Determine amount paid in cash for insurance premiums

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