An analysis of Thrift Corp.'s unadjusted prepaid expense account at December 31, 20x1, revealed the following: An opening balance of $1,503 for Thrift's comprehensive insurance policy. Thrift had paid an annual premium on July 1, 20x0. A $1,603 annual insurance premium payment made July 1, 20x1 A $2,694 advance rental payment for a warehouse Thrift leased for one year beginning January 1, 20x2 In its December 31, 20x1 statement of financial position, what amount should Thrift report as total prepaid expenses (round to the nearest whole dollar)? Your Answer: Answer