I posted a question and didn't get it answered, why?
The Joseph, Inc. uses the accrual basis of accounting. Joseph's insurance expense account had a $23,000 balance at the end of the year. The prepaid insurance account had a $6,000 balance at the beginning of the year and a $3,000 balance at the end of the year. How much cash was paid for insurance during the year?
2 answers
Your question wasn't answered because none of our regular tutors is an expert in insurance or accounting.
That sucks, but thanks anyways.
3 answers