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Inessa [10]
3 years ago
8

The correct amount of prepaid insurance shown on a company’s December 31, 2021, balance sheet was $1,400. On May 1, 2022, the co

mpany paid an additional insurance premium of $1,100. In the December 31, 2022, balance sheet, the amount of prepaid insurance was correctly shown as $1,000. The amount of insurance expense that should appear in the company’s 2022 income statement is:
Business
1 answer:
devlian [24]3 years ago
4 0

Answer:

Expense 2022                1500

Explanation:

december 31 2021         1400

december 31 2022 1000

                                 400

 

Pay additional insurance 1100

 

Expense 2022                1500

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