Cougar corp pays for 3-years of prepaid insurance by paying, Financial Accounting

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Cougar corp pays for 3-years of prepaid insurance by paying

On June 1st 2014, Cougar Corp pays for 3-years of prepaid insurance by paying $5,400. What would be the amount of prepaid insurance listed under current assets on the Cougar Corp’s 2014 Balance Sheet (as of December 31st 2014)?

a. $1,050

b. $3,600

c. $5,400

d. $1,800

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Financial Accounting: Cougar corp pays for 3-years of prepaid insurance by paying

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Financial Accounting: Cougar corp pays for 3-years of prepaid insurance by paying

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