Sensible Insurance Company collected a premium of $18,000 for a 1-year insurance policy on April 1. What

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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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Financial Accounting

ISBN: 9781119298229,9781119305842

10th Edition

Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel

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Question Posted: Feb 27, 2024 03:03 AM

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Sensible Insurance Company collected a premium of $18,000 for a 1-year insurance policy on April 1. What

Question:

Step by Step Answer:

b The monthly premium is 1500 or 18000 divided by 12 Because ...View the full answer

Financial Accounting

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