10 (1 point) On July 1, 20x8. Hathaway Ltd. purchased a 4-year insurance policy and paid a premium of $37.800. Hathaway has a December 31 year end. Which of the following statements is true? Under accrual accounting, there will be a balance of $33,075 in the Prepaid insurance account on December 31, 20x8. Under accrual accounting, the Insurance expense for the period ending December 31, 20x8, will be $9,450. Under accrual basis accounting, there will be a balance of $23.625 in the Prepaid insurance account on December 31, 20x9. Under accrual accounting, there will be a balance of $18,900 in the Prepaid insurance account on December 31, 20x9