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Suppose that ASD ltd. signs a 2 year insurance contract on its facilities, paying immediately...

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Accounting

Suppose that ASD ltd. signs a 2 year insurance contract on its facilities, paying immediately the cost of 2000 for the whole contract. The insurance begins on the 1st of April 2020 and end on the 31st of March 2022. What is the effect on the financial statements for the year to 31st December 2020?

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