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Consider the followingnormaladjusted account balances reported by Daylight Savings Time for the year ended 12/31/2018 and 12/31/2019. Please note that the 12/31/2019 balances are fully
Consider the followingnormaladjusted account balances reported by Daylight Savings Time for the year ended 12/31/2018 and 12/31/2019. Please note that the 12/31/2019 balances are fully adjusted except to the extent that the December bank reconciliation is still pending and any resulting entries have therefore not yet been recorded. Additionally, please note that Daylight purchases all Office Supplies on account from vendor Standard Company. 12/31/2018 12/31/2019 1 Cash $18,350 $17.850 2 Accounts receivable 14,200 13,000 3 Prepaid Advertising Expense 6,600 5.850 4 Prepaid Insurance Expense 7,350 8,150 5 Office Supplies 9,000 7.000 6 Store equipment 84.000 77,000 7 Office equipment 52.000 52,000 8 Accumulated depreciation 22.000 33.850 9 Accounts payable- Standard Co. 3,000 5.000 10 Dividends Payable 3,000 6,000 11 Interest Payable 600 0 12 Notes payable 40,000 0 13 Rent Payable 3.000 5,000 14 Salaries Payable 5,000 3.000 15 Unearned Service Fees 6,000 11,000 16 Utilities Payable 1,000 17 Common stock 50.000 75,000 18 Retained earnings 58,000 58,000 19 Dividends 50,000 20 Service Revenue 336,000 21 Gain on disposal of fixed asset 5.000 22 Interest Income 100 23 Advertising Expense 27,000 24 Salary Expense 165.000 25 Depreciation Expense 15.000 26 Office supplies expense 16,000 27 Insurance Expense 13,000 28 Interest expense 1.000 29 Miscellaneous Expense 2.100 30 Rent Expense 60,000 31 Utilities Expense 9.000 900 Select the answer choice below that shows the amount of cash paid in 2019 for purchases of office supplies. As mentioned above, Daylight purchases all Office Supplies on account from vendor Standard Company. None of the answer choices provided are correct $12,000 O $16.000 O $18,000 O $14,000
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