1 Jamillas accounting year ends on 31 March. On 1 June in year | she took out...

Question:

1 Jamilla’s accounting year ends on 31 March. On 1 June in year | she took out an insurance policy, paying an annual premium of £120. On 1 October she started a further policy and paid the annual premium of £600. (i) | How would this be treated in the accounts for year 1? (ii) How would insurance be dealt with in the accounts for year 2 ?

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