Exercise 3-1 Determining assets and expenses for accrual and cash accounting LO C2 On November 1, 2015, a company paid an $15,300 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. Balance Sheet Income Statement Prepaid Insurance Insurance Expense Accrual Basis Cash Basis Accrual Basis Cash Basis Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 2015 2016 2017 2018 Total