Goodfellow Corporation reported insurance expense of $477 for the current year. The beginning and ending balances in the prepaid insurance account were $50 and $30, respectively. What was the amount of cash paid for insurance?

Question

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$$\begin{array} { | l | r | r | } 
\hline \text { Irsurance expense } & 477 & \
\hline \text { Prepaid insurance expense } & & 20 \
\hline \text { Cash } & & 457 \
\hline
\end{array}$$

Goodfellow Corporation Reported Insurance Expense of $477 for the Current