Reference no: EM132202316

Question - Poole Company paid or collected during 2017 the following items:

Insurance premiums paid	$12,400
Interest collected	25,900
Salaries paid	125,200

The following balances have been excerpted from Poole's balance sheets:

	December 31, 2017	December 31, 2016
Prepaid insurance	$1,200	$1,500
Interest receivable	3,700	2,900
Salaries payable	12,300	10,600

1. The insurance expense on the income statement for 2017 was:

a) $9,700.

b) $12,100.

c) $12,700.

d) $15,100.

e) $12,400.

2. The interest revenue on the income statement for 2017 was:

a) $19,300.

b) $25,100.

c) $26,700.

d) $32,500.

e) $25,900

3. The salary expense on the income statement for 2017 was:

a) $102,300.

b) $123,500.

c) $126,900.

d) $148,100.

e) $125,200.