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Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability policy was $39,600 for

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Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability policy was $39,600 for 18 months, and the crop damage policy was $19,200 for a two-year term. What was the balance in Eve's Prepaid Insurance account as of December 31, 2021? Multiple Choice $36,000 $58,800 $3,000 $22,000

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