Business, 28.01.2020 06:31 YourFinalsAreHere

An analysis of thrift corp.'s unadjusted prepaid expense account at december 31, year 4, revealed the following: thrift had an opening balance of $1,500 for its comprehensive insurance policy. thrift had paid an annual premium of $3,000 on july 1, year 3. a $3,200 annual insurance premium payment made july 1, year 4 was unadjusted. a $2,000 advance rental payment for a warehouse thrift leased for one year beginning january 1, year 5 was included. in its december 31, year 4, balance sheet, what amount should thrift report as prepaid expenses?

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An analysis of thrift corp.'s unadjusted prepaid expense account at december 31, year 4, revealed th...

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