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What is the balance in eve prepaid insurance

    Assignment Instructions

    Assignment ID: FG133136229

    Questions –

    Q1. The Hamada Company sales for 2021 totaled $157,000 and purchases totaled $90,000. Selected January 1, 2021, balances were: accounts receivable, $18,700; Inventory, $15,900; and accounts payable, $11,900. December 31, 2021, balances were: accounts receivable, $14,100, Inventory, $19,000; and accounts payable, $15,000. Net cash flows from these activities were:

    Q2. Eve’s Apples opened its business on January 1, 2021, and paid for two Insurance policies effective that date. The policy for equipment damage was $36,180 for 18 months, and the crop damage policy was $10,500 for a two-year term. What is the balance In Eve’s prepaid Insurance as of December 31, 2021?

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