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QUESTION
Amir Designs purchased a one-year liability insurance policy on March 1st of this year for $3,120 and recorded it as a prepaid expense.
Amir Designs purchased a one-year liability insurance policy on March 1st of this year for $3,120 and recorded it as a prepaid expense. Select the amounts that would be recorded for insurance expense during the adjusting process at the end of Amir's first month of operations on March 31st?
