Multiple Choice
On April 1,a company paid the $1,350 premium on a three-year insurance policy with benefits beginning on that date.What amount of the insurance expense will be reported on the annual income statement for the first year ended December 31?
A) $1,350.00.
B) $450.00.
C) $1,012.50.
D) $337.50.
E) $37.50.
Correct Answer:
Verified
Correct Answer:
Verified
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