December 31, 2013 Prepaid Insurance….$6,000 Interest Receivable….3,700 Salaries Payable….61,500 December 31, 2012 Prepaid Insurance…..$7,500 Interest Receivable….14,500 Salaries

December 31, 2013

Prepaid Insurance….$6,000

Interest Receivable….3,700

Salaries Payable….61,500

December 31, 2012

Prepaid Insurance…..$7,500

Interest Receivable….14,500

Salaries Payable….53,000

Company paid or collected during 2013 the following items:

Insurance premium paid…$41,500

Interest Collected….123,500

Salaries Paid…481,000

What is the insurance expense on the income statement for 2013?

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