2 On March 1, Year 1, a company paid an $18,000 premium on a 36-month insurance policy for coverage beginning on that date. Refer to that policy and fill in the blanks in the following table. 0.12 points eBook Print References Balance Sheet Prepaid Insurance December 31, Year 1 December 31, Year 2 December 31, Year 3 December 31, Year 4 Accrual Basis Cash Basis

Year 1 Year 2 Year 3 Year 4 Total Income Statement Insurance Expense Check my work Accrual Basis Cash Basis 2

On March 1, Year 1, a company paid an $18,000 premium on a 36-month insurance policy for coverage beginning on that date. Refer to that policy and fill in the blanks in the following table