Question: On January 1 2 0 X 3 Roxy Co . obtained fire insurance for a two - year period and paid the premium of $

On January 120X3Roxy Co. obtained fire insurance for a two-year period and paid the premium of $72,000 on January 120X3 On October 120X3Roxy paid $24,000 for real estate taxes to cover the period ending September 3020X4. This prepayment was made to obtain a discount its December 31,20X3, balance sheet, Roxy should report prepaid expenses of:

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