How much did ardvard pay for insurance during x1

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Question: Ardvark Inc spent $74,000 on insurance during X1. The CFO of Ardvark noted that insurance payable was $5,000 on January 1, X1 and $8,000 on December 31, X1. Ardvark's prepaid insurance account reported balances of $12,000 and $7,000 on January 1 and December 31, respectively. How much did Ardvard pay for insurance during X1

Reference no: EM133542202

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