Question
On June 1, 2018, Superior Insurance Company collected $490,000 for a 2-year insurance policy beginning on the same date. The company has a December 31
On June 1, 2018, Superior Insurance Company collected $490,000 for a 2-year insurance policy beginning on the same date. The company has a December 31 year end. What is the balance of the unearned revenue account after adjusting entries on December 31, 2018?
A. $142,917
B. $245,000
C. $347,083
D. $102,083
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ICSA Study Text In Management Accounting
Authors: Richard Lyall
4th Edition
186072308X, 978-1860723087
