On November 1, Year 1, a company paid an $25,200 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. X Answer is complete but not entirely correct. Balance Sheet Income Statement Insurance Expense Accrual Cash Basis Basis 4,900 $ 25,200 Year 1 Prepaid Insurance Accrual Cash Basis Basis December 31, Year 1 $ 20,300 X $ 0 December 31, Year 2 11,900 X 0 December 31, Year 3 December 31, Year 4 0 0 Year 2 8,400 0 3,500 X Year 3 Year 4 8,400 0 3,500 X 0 25,200 $ 25,200 Total $