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?
