TB MC Qu. 03-169 (Algo) On July 1, a company paid the... 12 On July 1, a company paid the $2.280 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 317 1 12 $950 1 points $570 Book ASK $2.280. Print References 51710 $1,140