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The Ling Corporation reported a beginning balance of $800 in its Prepaid Insurance account. During...

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Accounting

The Ling Corporation reported a beginning balance of $800 in its Prepaid Insurance account. During the year, a total of $10,000 was recognized as insurance expense and the Prepaid Insurance account had an ending balance of $1,000. How much cash did Ling pay for insurance during the year?

  • $10,000

  • $10,800

  • $10,200

  • $9,200

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