Chapter Three HWi 1 On March 1, Year 1, a company paid an $22,500 premium on a 36-month insurance policy for coverage beginning on that date. Refer to that policy and fill in the blanks in the following table. 10 points eBook Print References Balance Sheet Prepaid Insurance December 31, Year 1 December 31, Year 2 December 31, Year 3 December 31, Year 4 Accrual Basis Cash Basis 625 0 Year 1 Year 2 Year 3 0 Year 4 Total Saved Income Statement Insurance Expense Accrual Basis $ Cash Basis 0 $ 0 Che

On March 1, Year 1, a company paid an $22,500 premium on a 36 -month insurance policy for coverage beginning on that date. Refer to that policy and fir in the bianks in the following table