26. Use the information below to answer the following:

1/1/X9 12/31/X9

Dues received in advance $ 100 $ 600

Dues receivable $2,700 $ 1,500

Cash received for dues $ 31,000

What is accrual basis dues revenue for the year?

A. $29,300

B. $29,800

C. $31,500

D. $32,200

E. $32,700

27. Use the information below to answer the following:

1/1/X9 12/31/X9

Prepaid interest $2,000 $ 2,800

Interest receivable $1,400 $ 1,200

Accrual basis interest expense $ 70,000

What is cash paid for interest for the year?

1. $69,200

B. $69,800

C. $70,200

D. $70,600

E. $70,800

Use the following information to answer 28 and 29:

1/1/X9 12/31/X9

Unearned rent revenue $5,200 $ 5,000

Rent payable $2,200 $ 2,500

Rent receivable $6,000 $ 6,400

Prepaid rent $ 700 $ 800

Rent expense $ 28,000

Rent revenue $ 30,000

28. How much cash was received for rent during the year?

1. $29,400 B. $29,800

C. $30,000 D. $30,200 E. $30,600

29. How much cash was paid for rent during the year?

1. $27,300 B. $27,600

C. $27,800 D. $28,200 E. $28,400

30. Use the information below to answer the following question:

1/1/X9 12/31/X9

Investments $7,000 $2,000

Purchase of Investments during 20X9 $4,000

Gain on sale of investments during 20X9 $ 700

What is cash received on sale of investments?

A. $2,300 B. $3,300

C. $4,700 D . $8,300 E. $9,700