On 1 May 2012,A Ltd pays $9600 for a one-year fire insurance policy that expires on 30 April 2013.Which of the following will appear on A Ltd's balance sheet at 30 June 2012?
A) prepaid insurance $1600
B) prepaid insurance $8000
C) prepaid insurance $9600
D) prepaid insurance $8800.
Correct Answer:
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