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Prepaid Insurance $15,800: The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on July 1, 2011, for $14,040. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2012, for $8,200. This policy has a term of 2 years.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M943762

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