Several years ago, Cayuga Capital acquired a $1 million insurance policy on the life of its chief executive officer, naming Cayuga Capital as beneficiary. Annual premiums are $20,000, payable at the beginning of each year. In 2021, the cash surrender value of the policy increased from $12,000 to $15,000 according to the contract. Cayuga's journal entry to record payment of the insurance premium in 2021 would include a:
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