Multiple Choice
Clean Sweep,Inc.paid $7,200 on May 1,2011 for 12 months' insurance coverage starting May 1.How much prepaid insurance should appear on the company's balance sheet at December 31,2011?
A) $7,200
B) $2,400
C) $3,000
D) $4,800
Correct Answer:
Verified
Correct Answer:
Verified
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