Respuesta :
Answer: Option (B) is correct.
Explanation:
Given that,
Interest Revenue = $141,000
Salaries and Wages Expense = 210,000
Insurance Expense = 21,000
Interest Receivable(2017) = $18,200
Interest Receivable(2016) = $15,000
Salaries and Wages payable(2017) = $17,800
Salaries and Wages payable(2016) = $8,400
Cash Received for Interest:
= Opening Accrued Interest Receivable + Interest Revenue - Closing Accrued Interest Receivable
= $15,000 + $141,000 - $18,200
= $137,800
Answer:
(B) $137,800
Explanation:
For the provided information, we have,
Interest Revenue for 2017 = $141,000
Interest Receivable Opening = $15,000
Interest Receivable Closing = $18,200
Therefore, Cash received for interest = Opening interest receivables + Interest revenue for the period - Closing interest receivables
= $15,000 + $141,000 - $18,200 = $137,800
Note: Interest Expense for the period will not be considered. As, Interest expense and interest revenue are both different items.
Thus, correct option is;
(B) $137,800