April 1, 2023, Stable Insurance Company sold a two-year policy to a customer and recorded the premium payment received by debiting cash and crediting premium revenue for $1,440. It is now December 31, 2023, Stable's year end, and the company needs to prepare its adjusting entries.
-Premium revenue for 2023 is
A) $540
B) $1,440
C) $900
D) $60
E) $360
Correct Answer:
Verified
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