Stephanie purchased a disability insurance policy two years, Accounting Basics

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Stephanie purchased a disability insurance policy two years

Problem

Stephanie purchased a disability insurance policy two years ago paying $150 of premiums per month. Today, Stephanie has an illness that requires treatment, preventing her from working, while receiving treatment and during the recovery period. The policy pays $3,000 per month. Stephanie had gross monthly earnings of $2,800. What amount of the disability payment is includable in Stephanie's gross income?

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Accounting Basics: Stephanie purchased a disability insurance policy two years

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