Testbank Multiple Choice Question 102 Vaughn Manufacturing paid or collected during 2020 the following items: Insurance premiums paid Interest collected Salaries paid $30400 70500 280300 The following balances have been excerpted from Vaughn's balance sheets: December 31, 2020 Prepaid insurance $2800 Interest receivable 7620 Salaries and wages payable 24600 December 31, 2019 $3380 6160 21500 The insurance expense on the income statement for 2020 was O $30980. O $36580. O $24220. O $29820. Click if you would like to Show Work for this question: Open Show Work