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On January 1st, XYZ Co. prepays $1,500 for one year of prepaid insurance. What is...

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Accounting

On January 1st, XYZ Co. prepays $1,500 for one year of prepaid insurance. What is the amount of insurance expense that XYZ will incur for the month of April?

Select one: a. $1,000 b. $125 c. $500 d. $1,500

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