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Question 29 3 pts Company X paid $3,600 to renew its insurance policy for a 3-year term on November 1, 2020. What amounts should be

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Question 29 3 pts Company X paid $3,600 to renew its insurance policy for a 3-year term on November 1, 2020. What amounts should be reported for prepaid insurance and insurance expense on the December 31st, 2020 financial statements? 1. Prepaid Expense ii. Insurance Expense 1. $3,400, il. $200 1. $3,400, II. $1,100 1. $3,300, il. $1,200 1. $3,490, l. $1,010

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