Multiple Choice
The premium on a three-year insurance policy purchased on June 30, 2020, was $36,000. What is the amount of insurance expense that should be presented on the company's income statement for the year ended December 31, 2020?
A) $500
B) $1,000
C) $3,000
D) $6,000
E) $8,000
Correct Answer:
Verified
Correct Answer:
Verified
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