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What the balance in Adam prepaid insurance as of December

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Question - Adam's Produce opened business on January 1, 2020, 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 Adam's prepaid insurance as of December 31, 2020?

A) $18,000

B) $48,000

C) $9,000

D) $30,000

Reference no: EM132726576

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