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What was the total premium

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Question - A partial adjusted trial balance of Skysong Company at January 31, 2020, shows the following.

SKYSONG COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2020

Debit Credit

Supplies $850

Prepaid Insurance 3,300

Salaries and Wages Payable $950

Unearned Service Revenue 900

Supplies Expense 950

Insurance Expense 550

Salaries and Wages Expense 1,950

Service Revenue 2,150

Answer the following questions, assuming the year begins January 1.

If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium?

When was the policy purchased?

Reference no: EM132604265

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