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Bramble Investments purchased an 18-month insurance policy on May 31, 2018 for $6120. The December 31, 2018 balance sheet would report Prepaid Insurance of $3740.

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Bramble Investments purchased an 18-month insurance policy on May 31, 2018 for $6120. The December 31, 2018 balance sheet would report Prepaid Insurance of $3740. $6120. $0 because Prepaid Insurance is reported on the Income Statement. $2380

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