Question: 2 . A county uses the consumption method in accounting for insurance premium prepayments. At the beginning of the fiscal year, the county paid a

2 .

A county uses the consumption method in accounting for insurance premium prepayments. At the beginning of the fiscal year, the county paid a $

24, 000

insurance premium to cover the current year and the subsequent fiscal year. At the end of the current year, the county will report in its General Fund

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