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in July 1, 2017, JazzE Ltd. purchased a 3-year insurance policy and paid a premium of $60,000. JazzE has a December 31 year end. What

in July 1, 2017, JazzE Ltd. purchased a 3-year insurance policy and paid a premium of $60,000. JazzE has a December 31 year end. What will be the balance in the prepaid insurance account on December 31, 2017 ?

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