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Posted on May 18, 2024

On June 3 0 , 2 0 1 5 , the Turi Company purchased a two - year fire insurance policy. Turi recorded the purchase

On June

30, 2015,

the Turi Company purchased a two

-

year fire insurance policy. Turi recorded the purchase by debiting Prepaid Insurance and crediting Cash for $

10, 000 .

What is the balance in the prepaid insurance account on

1 / 1 / 2017 ?

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