Balance in eve prepaid insurance problem

Reference no: EM13157663

Eve's Apples opened business on January 1, 2012, and paid for two insurance policies effective that date. The liability policy was $63,000 for eighteen-months, and the crop damage policy was $24,000 for a two-year term. What was the balance in Eve's prepaid insurance as of December 31, 2012?

a) $33,000.

b) $54,000.

c) $87,000.

d) $12,000.

Reference no: EM13157663

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