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What is amount of insurance expense that should be presented

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Question - The premium on a three-year insurance policy purchased on June 30, 2020, was $36,000. What is the amount of insurance expense that should be presented on the company's income statement for the year ended December 31, 2020?

a. $8,000

b. $500

c. $3,000

d. $1,000

e. $6,000

Reference no: EM132611086

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