RECOMMENDED!!On December 31, 2012, Company V

  

On December 31, 2012, Company V had a balance in its prepaid insurance account of $48,400.During 2013, $86,000 was paid for insurance.At the end of 2013, after adjusting entries were recorded, the balance in the prepaid insurance account was 42,000.What would Insurance expense for 2013 be?

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