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On July 1, 2017, a company paid an $22,500 premium on a 36-month insurance policy for coverage beginning on that date. Refer to that policy

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On July 1, 2017, a company paid an $22,500 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. Income Statement Insurance Expenso Accrual Basis Cash Basis Balance Shoot Prepaid Insurance Accrual Basis Dec 31, 2017 $ 22,500 Dec 31, 2018 Dec 31, 2019 Dec 31, 2020 Cash Basis 2017 2018 2019 2020 Total $ 0 $ 0

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