The following balances have been excerpted from Edwards' balance sheets: December 31, 2013 December 31, 2012 Prepaid Insurance $ 6,000 $ 7,500 Interest Receivable 3,700 14,500 Salaries Payable 61,500 53,000 Edwards Company paid or collected during 2013 the following items: Insurance premiums paid $ 41,500 Interest collected 123,500 Salaries paid 481,000 The insurance expense on the income statement for 2013 was Group of answer choices $40,000 $55,000 $28,000 $43,000
The following balances have been excerpted from Edwards'
December 31, 2013 December 31, 2012
Prepaid Insurance $ 6,000 $ 7,500
Interest Receivable 3,700 14,500
Salaries Payable 61,500 53,000
Edwards Company paid or collected during 2013 the following items:
Insurance premiums paid $ 41,500
Interest collected 123,500
Salaries paid 481,000
The insurance expense on the income statement for 2013 was
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