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Which amounts would be recorded as insurance expense

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Question - Diane's Designs purchased a one-year liability insurance policy on March 1 of a year for $3,840 and recorded it as a prepaid expense. Which of the following amounts would be recorded as insurance expense during the adjusting process at the end of Diane's first month of operations on March 31?

a. $384

b. $3,840

c. $320

d. $3,520

Reference no: EM132671780

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