Question 5 6 pts On May 1, 2019, ABC Company purchased a three-year insurance policy for $5,400. Indicate if each of the following statements is true or false by clicking in the drop down box to the right of each statement. Be careful with matching questions because carmen randomizes the matches. Thus, if you print out the quiz to work on it and then enter your answers later in the week, it is very likely the order of the matches will be different. Therefore, exercise caution when entering your answers into carmen. Quiz scores will not be adjusted for errors in entering choices. [Choose ] ABC Company will report insurance expense of $1,800 in its 2019 income statement Choose ] ABC Company will report prepaid insurance of $1,200 in its December 31, 2019 balance sheet Prepaid insurance is classified as an expense account [Choose ]