Use the following to answer questions 1-8: The Cornelius Athletic Club presented the following at the end of 20X4: Comparative Balance Sheets December 31 20X4 20x3 Cash $7,995 $6,490 Rent Receivable 230 570 Dues Receivable 2,500 2,800 Interest Receivable 730 520 Prepaid Rent 350 250 Supplies 780 260 Prepaid General Expenses 580 510 Investments 6,800 8,000 Furniture and Fixtures 6,790 2,960 Accumulated Depreciation on Furniture and Fixtures (1,120) (750) Total $25,635 $21,610 Accounts Payable (supplies only) $1,300 $5,200 Rent Payable 890 440 Interest Payable 170 230 Deferred Rent 600 640 Dues Received in Advance 305 100 Unearned Interest 770 300 Accrued General Expenses 250 400 Notes Payable 5,850 4,300 Members' Equity 15,500 10,000 Total $25,635 $21,610 Supplemental Information: Rent revenue in 20X4 $8,500 Cash paid for rent in 20X4 $3,150 Dues revenue in 20X4 $6,550 Cash received for interest in 20X4 $ 940 Purchase of investments in 20X4 $4,000 Loss on sale of investments in 20X4 $ 950 Supplies expense for 20X4 $1,820 All purchases of supplies were on account. Furniture and fixtures with an original cost of $2,000 and accumulated depreciation of $400 were sold for $800 in 20X4. Borrowings of $2,000 were made on notes payable in 20X4. Cash paid for interest was $1,260 in 20X4. There were no dividends or other distributions to members. The only change in Members' Equity is for the closing of the excess of accrual basis revenues over accrual basis expenses. Question 1 1 pts What is cash received for rent in 20X4? $5,920 $6,410 $8,120 $8,800 None of the above Question 2 1 pts What is rent expense in 20X4? $2,600 $3,500 $3,700 $4,700 None of the above Question 3 1 pts What is cash received for dues in 20X4? $6,455 O $6,645 O $7,055 O $8,655 None of the above Question 4 1 pts What is interest revenue in 20X4? $ 260 $ 680 0 $1,260 $1,620 None of the above Question 5 1 pts What is cash received from sale of investments in 20X4? $2,150 $4,250 $5,200 $7,000 O None of the above Question 6 1 pts What is cash paid for supplies in 20X4? $1,940 $1,980 $5,840 $6,240 None of the above Question 7 1 pts What is depreciation expense in 20X4? $ 770 $1,170 $1,570 $1,770 None of the above Question 8 1 pts What are the cash payments made on notes in 20X4? $ 750 $1,100 $1,450 $5,300 None of the above