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Busy Bee Company's financial statements show the following: Insurance expense.........$8,000 Prepaid insurance: Beginning-of-year.....$1,000 End-of-year...........$4,000 The...

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Question

Accounting

Busy Bee Company's financial statements show the following:

Insurance expense.........$8,000

Prepaid insurance:

Beginning-of-year.....$1,000

End-of-year...........$4,000

The amount of cash paid for insurance during the year was:

A $3,000

B $5,000

C $11,000

D $13,000

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