On December 31, 2020, Coolwear, Inc. had a balance in its prepaid insurance account of $53,400. During 2021, $91,000 was paid for insurance. At the end of 2021, after adjusting entries were recorded, the balance in the prepaid insurance account was $44,500. Insurance expense for 2021 was: Multiple Choice A.$144,400. B. $8,900. C.$99,900. D. $91,000
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