On June 1, Year 1, a company paid an $23,400 premium on a 36-month insurance...

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Accounting

On June 1, Year 1, a company paid an $23,400 premium on a 36-month insurance policy for coverage beginning on that date. Refer to that policy and fill in the blanks in the following table.
\table[[Balance Sheet,Income Statement,],[Prepaid Insurance,Insurance Expense,],[,Accrual Basis,Cash Basis,,Accrual Basis,Cash Basis],[December 31, Year 1,,,Year 1,,],[December 31, Year 2,,,Year 2,,],[December 31, Year 3,,,Year 3,,],[December 31, Year 4,,,Year 4,,],[,,,Total,$,0]]
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