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On January 2, 2013, Gridstone Quarry Purchased a General Liability

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On January 2, 2013, Gridstone Quarry purchased a general liability insurance policy for $3,600 for coverage for the calendar year. The entire $3,600 was charged to Insurance Expense on January 2, 2013. If the firm prepares monthly financial statements, the proper adjusting entry on January 31, 2013, will be On January 2, 2013, Gridstone Quarry purchased a general liability insurance policy for $3,600 for coverage for the calendar year. The entire $3,600 was charged to Insurance Expense on January 2, 2013. If the firm prepares monthly financial statements, the proper adjusting entry on January 31, 2013, will be

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