Luffy Co's advertising expense account had a balance of 146,000 at December 31,2010, before any necessary year-end adjustment relating to the following:

* Included in the 146,000 is the 15,000 cost of printing catalogs for a sales promotional campaign in January 2011.

* Radio advertisements broadcast during December 2010 were billed to Luffy on January 2, 2011. Luffy paid the 9,000invoice on January 11, 2011.

What amount should Luffy report as advertising expense in its income statement for the year ended December 31, 2010?

a.) 122,000

b.) 131,000

c.) 155,000

d.) 140,000