On March 1, 2009, a company paid a $16,200 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.
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Balance Sheet Prepaid Insurance Asset Using |
Insurance Expense Using |
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|
|
Accrual Basis |
Cash Basis |
|
Accrual Basis |
Cash Basis |
|
Dec. 31,2009 |
$ |
$ |
2009 |
$ |
$ |
|
Dec. 31,2010 |
|
|
2010 |
|
|
|
Dec. 31, 2011 |
|
|
2011 |
|
|
|
|
|
|
2012 |
|
|
|
|
|
|
Total |
$ |
$ |