Determining balance in prepaid insurance

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Reference no: EM13147679

Eve's Apples opened business on January 1, 20X8, and paid for two insurance policies effective that date. The liability policy was $36,000 for eighteen-months, and the crop damage policy was $12,000 for a two-year term. What was the balance in Eve's prepaid insurance as of December 31, 20X8?

$9,000.

$18,000.

$30,000.

$48,000.

Reference no: EM13147679

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