Homework Answers
Answer:
| Option D is Correct.i.e $6,300 | |
| Explanation: | |
| Total Prepaid insurance | 8,400 |
| Period expired (Oct1-Dec31) | 3 months |
| Therefore, Insurance expired | 2,100 |
| ($8,400*3/12) | |
| Prepaid Insurance | 6,300 |
| i.e. balance in Prepaid insurance on Jan1 | |
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