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On december 31 2012 company v had a balance in its prepaid

Question - On December 31, 2012, Company V had a balance in its prepaid insurance account of $48,400.

During 2013, $86,000 was paid for insurance.

At the end of 2013, after adjusting entries were recorded, the balance in the prepaid insurance account was 42,000.

What would Insurance expense for 2013 be?

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Accounting Basics: On december 31 2012 company v had a balance in its prepaid

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