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Consider the following transactions: 1. The company pays dividends to shareholders in the current year, $2,200. 2. The company pays cash for rent in the

Consider the following transactions:

1. The company pays dividends to shareholders in the current year, $2,200.

2. The company pays cash for rent in the current period, $2,000.

3. The company pays cash for utilities in the current period, $1,300.

The amount of accrual-basis expense is _____ while the amount of cash-basis expense is _____.

A)

$3,300; $3,300

B)

$5,500; 5,500

C)

$3,300; 5,500

D)

$5,500; $3,300

E)

$5,500; $4,200

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