The income statement for the year reports insurance expense

Reference no: EM13517787

Bert s Bungy Jumping, Inc. paid $650,000 cash for casualty insurance during the year 2015. If the income statement for the year reports insurance expense of $620,000 then
a Bert's prepaid insurance decreased $30,000.
b Bert's cash account balance decreased $30,000.
c Bert's prepaid insurance increased $30,000.
d Bert's prepaid insurance was $30,000 at year-end.

Reference no: EM13517787

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