Multiple Choice
Hour Place Clock Repair paid $1,800 cash in advance for a one year insurance policy.According to the matching principle,if 4 months of the policy has expired by the balance sheet date,how much should Hour Place Clock Repair report as Prepaid Insurance?
A) $0
B) $600
C) $1,200
D) $1,800
Correct Answer:
Verified
Correct Answer:
Verified
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