Below is the T-account for prepaid insurance for 2020:

Dr.	Prepaid Insurance			Cr.
1/1	10500
		12/31	24000
12/31	14500

The company adjusts the accounts at the end of the year. Insurance purchased during 2020 is:

Round your answer to the nearest amount. Do not include any dollar signs, commas, decimal places and/or spaces in your answer. Your answer should only include digits. For example, if the correct answer is 1021, you should enter 1021 as your answer. If you enter $1021 or 1,021 or 1 021 or $1021.00, your answer will be marked wrong.

Answer:

25000

(28000)