ion. On Aug. 5th, Al-awadi Co. paid OMR24,000 for a one-year fire insurance policy, beginning Aug 1. Show the entry to record the purchase of the insurance. An analysis of the policy reveals that OMR 2,000 (OMR 24,000/12) of insurance expires each month. If the financial position is prepared, the prepaid insurance should be: Select one: a. OMR 2,000 b. OMR 26,000 c. OMR 22,000 d. None of the answers are correct e. OMR 24,000