Macduff Ltd.'s prepaid insurance balance was $10,000 at December 31, 2017 and $5,000 at December 31, 2016.Insurance expense was $4,000 for 2017 and $3,000 for 2016.How much cash paid for insurance would be reported in Macduff's 2017 statement of cash flows prepared using the direct method?
A) $11,000
B) $9,000
C) $6,000
D) $4,000
Correct Answer:
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