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A firm prepays two years of insurance premiums on 3/1/Year 2. The amount paid is $48. The firm's fiscal yearend (FYE) is 12/31. How much
A firm prepays two years of insurance premiums on 3/1/Year 2. The amount paid is $48. The firm's fiscal yearend (FYE) is 12/31. How much insurance expense will be recognized in Year 2 just considering the above transaction? Give your answer as a whole number. Do not use any decimals or currency symbol. Do not use a minus sign.
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