04 On April 1, a company paid the $2,400 premium on a three-year insurance policy with benefits beginning on that date. What amount of insurance expense will be reported on the annual income statement for the first year ended December 31? Multiple Choice O $600.00. $800.00. $2,400.00. $1,800.00 $66.67.

On April 1, a company paid the $2,400 premlum on a three year insurance pollcy with benefits beginning on that date. What amount of insurance expense will be reported on the annual income statement for the first year ended December 31 ? Muctiple Choice $60000 $80000 $2,40000 $180000 566.67