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How much is the prepaid insurance expense reported

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Question - On October 1, 2021, FDN Company paid an insurance premium covering the period from October 1, 2021 to October 1, 2022 in the amount of P178,000. The accounting period ends on December 31, 2021. How much is the Prepaid Insurance Expense reported on the Statement of Financial Position as of December 31, 2021?

Reference no: EM133122540

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