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The total premium for each policy was paid in full for all

An analysis of the company's insurance policies provided the following facts.

Policy	Date of Purchase	Months of Coverage	Cost
A	April 1, 2013	24	$	14,400
B	April 1, 2014	36		12,960
C	August 1, 2015	12		2,400

The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years.)

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Accounting Basics: The total premium for each policy was paid in full for all

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Accounting Basics: The total premium for each policy was paid in full for all

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