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Calculate the amount of cash paid for insurance

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Question - After adjusting entries had been made, the balance sheets of Ramiro's Company showed the following asset and liability amounts at the end of 2009 and 2010:

2010 2009

Prepaid insurance $2,400 $2,900

Wages payable 1,200 2,200

Unearned fees 4,200 1,900

The following amounts were taken from the 2010 income statement:

Insurance expense $ 3,800

Wages expense 19,500

Fees earned 8,900

Calculate the amount of cash paid for insurance and wages and the amount of cash received for fees during 2010.

Reference no: EM131921327

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