Question: On September 1 , 2 0 X 1 , a firm purchased a 1 - year insurance policy for $ 6 , 0 0 0

On September 1,20X1, a firm purchased a 1-year insurance policy for $6,000 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31,20X1, is:
Multiple Choice
$6,000.
$500.
$4,000.
$2,000.

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