Bonita Industries paid or collected during 2020 the following items: Insurance premiums $31500 paid Interest collected 68800 Salaries paid 281300 The following balances have been excerpted from Bonita's balance sheets: December 31, 2020 December 31, 2019 Prepaid insurance $2140 $2860 Interest receivable 7280 5360 Salaries and wages payable 24800 21100 The insurance expense on the income statement for 2020 was O $32220. $30780. O $26500. $36500.