Question: Please explain how you get the answer using T account Use the following for questions 9-11 - The income statement of Dolan Corporation for 2018

Please explain how you get the answer using T account

Use the following for questions 9-11 - The income statement of Dolan Corporation for 2018 included the following items:

Interest revenue $131,000

Salaries and wages expense 170,000

Insurance expense 15,200

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

December 31, 2018 December 31, 2017

Interest receivable $18,200 $15,000

Salaries and wages payable 17,800 8,400

Prepaid insurance 2,200 3,000

9. *99. The cash received for interest during 2018 was

a. $112,800. b. $127,800. c. $131,000. d. $134,200.

10.*100. The cash paid for salaries during 2018 was

a. $179,400. b. $160,600. c. $161,600. d. $187,800.

11.*101. The cash paid for insurance premiums during 2018 was

a. $13,000. b. $12,200. c. $16,000. d. $14,400.

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