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On June 1, 2018, Superior Insurance Company Collected $490,000 for a 2-Year

Question 90

Multiple Choice

On June 1, 2018, Superior Insurance Company collected $490,000 for a 2-year insurance policy beginning on the same date. The company has a December 31 year end. What is the balance of the unearned revenue account after adjusting entries on December 31, 2018? (Do not round any intermediary calculations. Round your final answer to the nearest dollar.)


A) $347,083
B) $142,917
C) $245,000
D) $102,083

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