Required information The earnings statement of Waylon Taylor Textiles Ltd. for 20X7 included the following items: Interest revenue $75,500 Salaries expense $65,000 Insurance expense $9,600 The following balances have been excerpted from the company's Statement of Financial Position: December 31, 20X7 December 31, 20X6 Accrued interest receivable $9,100 $7,500 Accrued salaries payable $8,900 $4,200 Prepaid insurance $1,100 $1,500 How much cash did WTT pay out for salaries during 20X7? Multiple Choice $73,900 $69,700 $60,300 $60,800