1. Eve's Apples opened its business on January 1, 2021, and paid for two insurance...
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Accounting
1. Eve's Apples opened its business on January 1, 2021, and paid for two insurance policies effective that date. The policy for equipment damage was $34,560 for 18 months, and the crop damage policy was $13,800 for a two-year term. What is the balance in Eve's prepaid insurance as of December 31, 2021?
2. Cal Farms reported supplies expense of $2,300,000 this year. The supplies account decreased by $210,000 during the year to an ending balance of $310,000. What was the cost of supplies the Cal Farms purchased during the year?
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