Question

​Murphy, Inc. prepaid $ 3 comma 600$3,600 on October​ 1, 2018 for a oneminus−year insurance premium. Coverage begins October 1. On January​ 1, 2019​ (after December 31​ adjustments), the Prepaid Insurance account will have a debit balance of​ ________. (Round any intermediate calculations to two decimal​ places, and your final answer to the nearest whole​ number.)

Answer 1

Prepaid Insurance account will have a debit balance of 2700

Step-by-step explanation:

Prepaid 3600 balance

October 31 300 3300

November 30 300 3000

December 31 300 2700 January 1