Exercise $5-21($Algo$)$ Prepaid expenses$-$insurance LO $5-10$

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A company makes the payment of a one$-$year insurance premium of $$3,912$ on April $1,2022.$

Exercise $5-21($Algo$)$ Part d

d$.$ If the premium had been $$7,824$ for a two$-$year period, how should the prepaid amount at December $31,2022,$ be reported on the

balance sheet?