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Required information Exercise 5-21 (Algo) Prepaid expenses-insurance LO 5-10 [The following information applies to the questions displayed below] A company makes the payment of a

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Required information Exercise 5-21 (Algo) Prepaid expenses-insurance LO 5-10 [The following information applies to the questions displayed below] A company makes the payment of a one-year insurance premium of $4,080 on April 1, 2022. Exercise 5.21 (Algo) Part c c. Calculate the amount of prepaid insurance that should be reported on the December 31,2022, batance sheet with respect to this policy

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