申論題

四、Logan Insurance Agency prepares monthly financial statements. Presented  below is an income statement for (he month of June that is correct on the basis of AddiHonal Data: When the income statement was prepared, the company accountant neglected to take into consideration the following information:

2.A company insurance salesman sold a life insurance policy to a client for a premium of $28,000. The agency billed the client for the policy and is entitled to a commission of 20%.