What amount should appear as the balance prepaid

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Reference no: EM133497275

Question: On April 1, Otisco, Incorportated paid garcia Publishing company $3,060 for 36 - month subscription to several different magazines. Otisco debited the prepayment To prepaid Subscription account, and the subscription started immediately. What amount should appear as the balance prepaid subscription account for Otisco after adjustments on December 31 of the first year? Assuming the company is using a calendar- year period and no previous adjustment has been made.

Reference no: EM133497275

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