Styles Companies LA DIVA has three stores, paid insurance policies for all its stores. The first policy was paid on July 1, 20x0 for 24 months. The second policy was paid on September 30, 20X0 for 18 months and the third policy was paid on November 1, 20x0 for 15 months. The company closes the books of its stores on June 30. The policy payments were $ 48,000, $ 54,000 and $ 22,500, respectively. Determine the balance of Insurance Paid in Advance and the Insurance Expense for June 30, 20x1