On January 1, 20A, Thomas Company paid $1,000 for a two-year insurance policy on the building. The accounting period ends December 31. At the end of 20A, the financial statements should report which of the following?

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The Answer of On January 1, 20A, Thomas Company paid $1,000 for a two-year insurance policy on the building. The accounting period ends December 31. At the end of 20A, the financial statements should report which of the following?

On January 1, 20A, Thomas Company Paid $1,000 for a Two-Year