MC Qu. 102 On April 30, 2014, a three-year insurance...
|
On
April 30, 2014, a three-year insurance policy was purchased for $19,620
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, 2014?
|
| $545.00 | |
 | $4,360 |
| $6,540 | |
| $15,260 | |
| $19,620 |
$19,620 x 8/36 = $4,360
