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What was the total premium

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Question - On the adjusted trial balance of Orlando Corporation as at January 31, 2018, the following are some of the account balances (all normal balances): Supplies $740, Prepaid Insurance $1,620, Unearned Revenue $680, Salaries Payable $1,190, Supplies Expense $950, Service Revenue $2,030, Insurance Expense $540, Salaries Expense $1,740. Orlando's year-end is December 31 and its adjusting journal entries are recorded monthly. If the amount in Insurance Expense was recorded in the January 31 adjusting entry, and the original insurance premium was for 1 year, what was the total premium?

Reference no: EM132568178

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