On July 1, 20x4, Nacho Mama's Cantina paid $4,800 for a one-year Insurance policy protecting the Cantina from losses caused by fire, flood, viruses, civil unrest, hurricanes, tornados and wild animal infestation Insurance coverage for all of the above listed perils began on that date. How much insurance expense should Mama record on her income statement dated December 31, 20x4? Multiple Choice $2,000 $3,600 $1,200 $4,800