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Business, 12.02.2021 16:50 dontcareanyonemo

Mod 13.2b: American Insurance Co. received a $30,000 cash payment from a customer to pay for two-year's of insurance from 8/1/X5 to 7/31/X7. Assuming American Insurance Co. properly follows accrual accounting, how much insurance revenue (i. e. insurance premiums) should be American Insurance Co. recognize on its Income Statement for the year ended 12/31/X5? Round your answer to the nearest penny.

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