On December 31, 2020, Heidi Aurora Imports had a balance in its prepaid insurance account...
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Accounting
On December 31, 2020, Heidi Aurora Imports had a balance in its prepaid insurance account of $56,400. During 2021, $94,000 was paid for insurance. At the end of 2021, after adjusting entries were recorded, the balance in the prepaid insurance account was $46,000. Insurance expense for 2021 was: Multiple Choice $150.400. $94,000 $104,400. $10,400
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