Exercise 5-21(Algo) Prepaid expenses-insurance LO 5-10 [The following information applies to the questions...

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Accounting

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 $3,912 on April 1,2022.
Exercise 5-21(Algo) Part d
d. If the premium had been $7,824 for a two-year period, how should the prepaid amount at December 31,2022, be reported on the
balance sheet?
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