Graystone Advertisings accountant noted the following items in the review of Decembers activity. What is the proper amount of expenses that should be recorded in the calendar year-end financial statements?

The $700 electric bill for December was received by the end of the month and will be paid in January.

The $3,000 rent for January was paid on December 31.

Sales employees earned $2,000 in commissions based on December sales, however the commissions will not be paid until January.

At the beginning of November, Graystone paid $2,100 for insurance coverage for November through January.

Group of answer choices

$5,000

$4,100

$3,400

$5,700