Multiple Choice
On July 1,a company paid the $2,400 premium on a one-year insurance policy with benefits beginning on that date.What will be the insurance expense on the annual income statement for the first year ended December 31?
A) $1,200.
B) $2,400.
C) $1,000.
D) $400.
E) $1,400.
Correct Answer:
Verified
Correct Answer:
Verified
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