When Castle Corporation pays insurance premiums, the transaction is recorded as a debit to prepaid i

/in /by

When Castle Corporation pays insurance premiums, the transaction is recorded as a debit to prepaid insurance. Additional information for the year ended December 31 is as follows:
Prepaid insurance at January 1 $51,500 Insurance expense recognized during the year 219,250 Prepaid insurance at December 31 61,450

What was the total amount of cash paid by Castle for insurance premiums during the year?

Multiple Choice

$229,200

$167,750

$209,300

$219,250

Get Help from Experts

If you’re still asking yourself, “Who can help me write my paper from scratch", don’t hesitate to use us. Experienced writers will immediately write, proofread, or improve your academic paper. They can also help you choose a topic and edit your references into APA or MLA format. So, what are you waiting for?

Find your writer