On July 1, a company paid the $3,960 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the first year ended December 31? 0:08 Multiple Choice $1,980 $1,650. $2.970 $3,960. On April 1, Griffith Publishing Company received $33,480 from Santa Fe, Inc. for 36-month subscriptions to several different magazines. The company credited Unearned Fees for the amount received and the subscriptions started immediately. Assuming adjustments are only made at year-end, what is the adjusting entry that should be recorded by Griffith Publishing Company on December 31 of the first year? 00:48:25 Multiple Choice debit Unearned Fees, $2.790: credit Fees Earned, $2.790 debit Unearned Fees. $33.480, credit Fees Earned, $33,.480. debit Unearned Fees. $8.370: credit Fees Earned. $8,370 debit Unearned Fees, $25,110, credit Fees Earned, $25,10