On April $1$st $2023(4/1/2023)$ a company purchases insurance for $$2,000$ per month. The company was required to prepay for insurance for one year $(12$ months paid$)$ on the date of the insurance contract $(4/1/2023).$ What is the amount of Prepaid Insurance that should be reported on the $12/31/2023$ Balance Sheet related to this transaction after all adjusting journal entries are made?