Solution: Sunbrella Insurance Company collected premiums throughout the year from its customers totaling $18,000. The adjusted balance in its Unearned Premiums account increased from $6,000 to $8,000 during the

Problem

Sunbrella Insurance Company collected premiums throughout the year from its customers totaling $18,000. The adjusted balance in its Unearned Premiums account increased from $6,000 to $8,000 during the year. What was Sunbrella's revenues from insurance premiums for the current year?

a) $10,000
b) $16,000
c) $18,000
d) $20,000