On March 1st 2022 (03/01/2022) a company purchases insurance $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 (03/01/2022). What is the amount of Prepaid Insurance that should be reported on the 12/31/2022 Balance Sheet related to this transaction after all adjusting journal entries are made