Murphy, Inc. paid $$9,600$ cash for insurance in June that provides coverage for six months, from July through December. How much expense should be recognized in June to be in accordance with generally accepted accounting principles?

Group of answer choices

No expense should be recognized in June

$$9,600$

$$1,600($$$9,600\backslash$times $1/6$ for the month of June$)$

$$4,800$