FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability policy was $55,800 for 18
months, and the crop damage policy was $19,200 for a two-year term. What was the balance in Eve's Prepaid Insurance account as of December 31,
2021?
25
Multiple Choice
$46,800
$28,200
$9,600
$75,000
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Transcribed Image Text:Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability policy was $55,800 for 18 months, and the crop damage policy was $19,200 for a two-year term. What was the balance in Eve's Prepaid Insurance account as of December 31, 2021? 25 Multiple Choice $46,800 $28,200 $9,600 $75,000
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