Multiple Choice
On April 1,2011,a company paid the $1,350 premium on a three-year insurance policy with benefits beginning on that date.What will be the insurance expense on the annual income statement for the year ended December 31,2011?
A) $1,350
B) $450
C) $1,012.50
D) $337.50
E) $37.50
Correct Answer:
Verified
Correct Answer:
Verified
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