Diane's designs purchased a one-year liability insurance policy on march 1 of a year for $3,960 and recorded it as a prepaid expense. which of the following amounts would be recorded as insurance expense during the adjusting process at the end of diane’s first month of operations on march 31?

$330 transfer from prepaid insurance expense to insurance expense

Explanation:

we can say that on 1st March

The expense would be recorded as

Prepaid insurance account debit  = $3,960

so to cash = $3,960

For prepaid insurance recorded and cash paid

and

for 1 month insurance expense will be

1 month insurance expense =

1 month insurance expense = $330

and

on 31 March

The entry will be

insurance expense account debit =  $330

so

To prepaid insurance $330

so $330 transfer from prepaid insurance expense to insurance expense

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )