Determining assets and expenses for accrual and cash accounting. On March 1, 2003, a company paid a $16,200 premium on a 36 month insurance policy for coverage beginning on that date. Refer to that policy and fill in the blanks in the following table.
Balance Sheet Insurance Asset Using [ U]Insurance Expense Using[/U]
Accrual Basis Cash Basis Accrual Basis Cash Basis

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