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Question 35 4 pts Mod 13.4a: Your company paid $10,000 today (11/1/X1) for fire insurance covering a 10 month period starting today. Your company properly
Question 35 4 pts Mod 13.4a: Your company paid $10,000 today (11/1/X1) for fire insurance covering a 10 month period starting today. Your company properly recorded the payment on 11/1/X1 to fully comply with accrual accounting. Assuming your company also properly made the newessary adjusting entry as of 12/31/X1, the balance in the prepaid insurance expense account should be $8.000 $10,000 $0 $2.000
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