Question 21 Red Wings, Inc. maintains their accounting records on a cash basis. The following information is provided for 2017: Not yet answered Points out of 3.00 Flag question Decrease in Wages Payable from 1/1 to 12/31 Cash Collected from Customers 12/31 Accounts Receivable 12/31 Accounts Payable Cash paid to vendors 1/1 Accounts Payable 1/1 Accounts Receivable 1/1 Prepaid Insurance Cash Paid for Wages and Insurance 12/31 Prepaid Insurance 5 100 5 2 60 5 8 2 30 7 Accrual-basis 2017 Expense for Insurance and Wages is: Select one: a. $30 b. $25 c. $20 d. $40 e. $34