Multiple Choice
Sure Enuf,Inc.paid $4,800 on May 1,2012 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 31,2012?
A) $4,800
B) $2,800
C) $3,200
D) $0.Insurance expense does not appear on the income statement.
Correct Answer:
Verified
Correct Answer:
Verified
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