The Creative Company has several insurance policies in force with payments due atvarious times. The following information refers to prepaid insurance and insurance expense on two successive dates. The amount of cash paid for insurance by Creative Company in 2016 was:
A)$4,500.
B)$3,750.
C)$5,000.
D)$3,250.
E)$8,750.

Question

The Creative Company has several insurance policies in force with payments due atvarious times. The following information refers to prepaid insurance and insurance expense on two successive dates.  The amount of cash paid for insurance by Creative Company in 2016 was:
A)$4,500. 
B)$3,750. 
C)$5,000. 
D)$3,250. 
E)$8,750.

Quizplus · Accepted Answer

The Answer of The Creative Company has several insurance policies in force with payments due atvarious times. The following information refers to prepaid insurance and insurance expense on two successive dates.  The amount of cash paid for insurance by Creative Company in 2016 was:
A)$4,500. 
B)$3,750. 
C)$5,000. 
D)$3,250. 
E)$8,750.

The Creative Company Has Several Insurance Policies in Force with Payments