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Received invoice 482 from BusInsure dated 10 August 2021 relating to the insurance for the business for a 12 month period from 1 August 2021

Received invoice 482 from BusInsure dated 10 August 2021 relating to the insurance for the business for a 12 month period from 1 August 2021 to 31 July 2022. Credit terms are 10 days from the date of invoice and the amount of the invoice is $3,000.

Would I record this as prepaid insurance or as an insurance expense?

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