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The income statement of Dolan Corporation for 2014 included the following items: Interest revenue $121,000 Salaries and wages expense $180,000 Insurance expense $18,200. The following
The income statement of Dolan Corporation for 2014 included the following items:
Interest revenue $121,000
Salaries and wages expense $180,000
Insurance expense $18,200.
The following blances have been excerpted from Dolan Corporation's balance sheets:
December 31, 2014 December 31, 2013,
Interest receivable $18,200 $15,000
Salaries and wages Payable $17,800 $8,400
Prepaid Insurance $2,200 $3,000
The cash received for interest during 2014 was:
a. $121,000
b. $102,800
c. $117,800
d. $124,200
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