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    kamikah25 Posts: 4, Reputation: 1
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    Mar 4, 2012, 07:17 PM
    Accounting
    On April 1, 2007, a company paid the $1,350 premium on a three-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the year ended December 31, 2007?
    Answer

    $1,350

    $450

    $1,012.50

    $337.50

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