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On April 30,2011,a Three-Year Insurance Policy Was Purchased for $18,000

Question 47

Multiple Choice

On April 30,2011,a three-year insurance policy was purchased for $18,000 with coverage to begin immediately.What is the amount of insurance expense that would appear on the company's income statement for the year ended December 31,2011?


A) $500
B) $4,000
C) $6,000
D) $14,000
E) $18,000

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