Prepaid Insurance Shows a Beginning Balance of $500 and an Ending

question 80

Multiple Choice

Prepaid insurance shows a beginning balance of $500 and an ending balance of $2,800. The insurance expense account was debited during the adjusting process for $1,800. How much cash was spent for insurance?

• A)$1,500
• B)$4,100
• C)$1,000
• D)$3,300

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