cocog1364 cocog1364

19-09-2019
Business

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Diane's Designs purchased a one-year liability insurance policy on March 1 of this year for $8,400 and recorded it as a prepaid expense. Which of the following amounts would be recorded for insurance expense during the adjusting process at the end of Diane’s first month of operations on March 31?
a. $700
b. $7,700
c. $8,400
d. $840

Respuesta :

ujgerman ujgerman

23-09-2019

Answer:

a. $700

Explanation:

1 Year Liabilitie 8400

1 month expense 8400÷12

1 monthe expense = 700

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