Multiple Choice
The Oglethorpe Corporation reported a beginning balance of $12,400 in its Prepaid Insurance account for 2016.During the year,Oglethorpe paid a total of $42,000 to purchase insurance,and the Prepaid Insurance account had an ending balance of $13,100.What was the amount of insurance expense that Oglethorpe reported for 2016?
A) $42,000
B) $42,300
C) $42,700
D) $41,300
Correct Answer:
Verified
Correct Answer:
Verified
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