Multiple Choice
On April 30, a three-year insurance policy was purchased for $18,000 with coverage to begin immediately. What is the amount of insurance expense that would appear on the company's income statement for the year ended December 31?
A) $500.
B) $4,000.
C) $6,000.
D) $14,000.
E) $18,000.
Correct Answer:
Verified
Correct Answer:
Verified
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