When Castle Corporation pays insurance premiums, the transaction is recorded as a debit to prepaid i
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
Get Assignment Writing Help
Our experts are ready to complete your assignment, course work. essay, test, dissertation, research paper, quiz
Get Started$209,300
$219,250
Needs help with similar assignment?
we are available 24x7 to deliver the best services and ready within 3-4 hours? Order a custom-written, plagiarism-free paper

