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Find what amount should be the life insurance expense

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Reference no: EM132864569

Question 1: The balance of cash surrender value of life insurance policy on the books of Paulo Corporation increased from $80,000 to $115,000 during 2020. If the company pays annual insurance premium of $110,000 on this policy, what amount should be the life insurance expense for 2020?

Reference no: EM132864569

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