Multiple Choice
On May 1,a two-year insurance policy was purchased for $18,000 with coverage to begin immediately.What is the amount of insurance expense that would appear on the company's income statement for the first year ended December 31?
A) $750.
B) $5,270.
C) $6,000.
D) $6,750.
E) $18,000.
Correct Answer:
Verified
Correct Answer:
Verified
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