On April 1, Year 1, Hoosier Dry Cleaners paid $36,000 for in…
On April 1, Year 1, Hoosier Dry Cleaners paid $36,000 for insurance to cover the next 12 months, starting April 1. How much expense will Hoosier Dry Cleaners include in the Year 1 financial statements (dated December 31, Year 1)?