Exercise 3-1 (Algo) Determining assets and expenses for accrual and cash accounting LO C1 On September 1, Year 1, a company paid an $19,800 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 Prepaid Insurance Income Statement Insurance Expense December 31, Year 1 December 31, Year 2 December 31, Year 3 December 31, Year 4 Accrual Basis Cash Basis Accrual Basis Cash Basis Year 11 Year 2 Year 3 Year 4 Total $ 0 $