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Mary Chain Investments purchased an 18-month insurance policy on May 31, 2014 for $3,600. The December 31, 2014 balance sheet would report Prepaid Insurance of

Mary Chain Investments purchased an 18-month insurance policy on May 31, 2014 for $3,600. The December 31, 2014 balance sheet would report Prepaid Insurance of

A)

$0 because Prepaid Insurance is reported on the Income Statement.

B)

$1,400.

C)

$2,200.

D)

$3,600.

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