Question: When Castle Corporation pays insurance premiums, the transaction is recorded as a debit to prepaid insurance. Additional information for the year ended December 31

When Castle Corporation pays insurance premiums, the transaction is recorded as a

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 Insurance expense recognized during the year Prepaid insurance at December 31 $50,500 218,250 62,150 paid by Castle for msurance premiums during the year? What was the total amount of cash

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