<u>Calculation of adjusted balance for prepaid insurance at December 31, 2017:</u>
It is given that on December 31, 2017, before any year-end adjustments, Canterbury shoe repair's prepaid insurance account had a balance of $3,500. It was determined that $2,200 of the prepaid insurance had expired.
So the adjusted balance for prepaid insurance at December 31, 2017, shall be (3500-2200) = <u>$1,300</u>
Answer:
Explanation:
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