Sensible Insurance Company collected a premium of $18,000 for a 1-year insurance policy on April 1. What
Question:
Sensible Insurance Company collected a premium of
$18,000 for a 1-year insurance policy on April 1. What amount should Sensible report as a current liability for Unearned Service Revenue at December 31?
(a) $0.
(b) $4,500.
(c) $13,500.
(d) $18,000.
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b The monthly premium is 1500 or 18000 divided by 12 Because ...View the full answer
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Related Book For
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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