Compute the insurance expense

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Question - On December 31, 2020, Coolwear, Inc. had a balance in its prepaid insurance account of $64,400. During 2021 $102,000 was paid for insurance. At the end of 2021, after adjusting entries were recorded. The balance in the prepaid insurance account was $50,000. Compute the insurance expense for 2021?

Reference no: EM132669291

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