Aurora Corporation operated without insurance coverage for the first month of operations. Then, on February...
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Accounting
Aurora Corporation operated without insurance coverage for the first month of operations. Then, on February 1, the company paid the $4,800 premium on a two-year insurance policy with benefits beginning on that date. The company uses the cash basis. How much insurance expense will be reported on the company's income statement for their first year ended December 31?
multiple choice
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$200
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$2,200
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$4,600
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$4,800
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