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b) From the following information, calculate the amount of Premium received in advance on the beginning of year: Particulars Premium received during the year Outstanding

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b) From the following information, calculate the amount of Premium received in advance on the beginning of year: Particulars Premium received during the year Outstanding premium on the end of the year R.O 85000 15,000 Premium received in advance the end of year 10000 8800 Outstanding premium on the beginning of the year Bonus in reduction of premium to be adjusted 13700 Reinsurance premium of the year 20,000 80600 Credited Premium

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