Benton Company reported insurance expense of $301,000 during the current year. On January 1 and December 31 of the current year, prepaid insurance was $28,000 and $41,000, respectively. Calculate cash paid for insurance premiums for the current year.

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The Answer of Benton Company reported insurance expense of $301,000 during the current year. On January 1 and December 31 of the current year, prepaid insurance was $28,000 and $41,000, respectively. Calculate cash paid for insurance premiums for the current year.

Benton Company Reported Insurance Expense of $301,000 During the Current