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Oriole Investments purchased an 12-month insurance policy on May 31, 2020 for $4500. The December 31, 2020 balance sheet would report Prepaid Insurance of O

Oriole Investments purchased an 12-month insurance policy on May 31, 2020 for $4500. The December 31, 2020 balance sheet would report Prepaid Insurance of O $0 because Prepaid Insurance is reported on the Income Statement O $4500 O $2625 $1875

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