Multiple Choice
Clean Sweep,Inc.paid $7,200 on May 1,2011 for 12 months' insurance coverage starting May 1.How much insurance expense should appear on the company's income statement for the year ended December 31,2011?
A) $7,200
B) $4,200
C) $4,800
D) $0.Insurance expense does not appear on the income statement.
Correct Answer:
Verified
Correct Answer:
Verified
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