TRUE FALSE. Write T if the statement is true and F if the statement is false On January 1, 2016, the Prepaid Insurance account of Dogwood Company had a beginning balance of $1,500. Three months of insurance premiums remain in this beginning balance. On February 21, 2018, the company paid an annual insurance premium in the amount of $3,400 for the period beginning March 1.On February 28, 2015, the balance in Prepaid Insurance is $1.000