QUESTION 5 USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (4) QUESTIONS: The Income Statement of...

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QUESTION 5 USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (4) QUESTIONS: The Income Statement of Dolan Corporation for 2016 included Interest Revenue for $131,000. The Cash ledger for the company for 2016 showed $160,600 cash paid for salaries, $14,400 cash paid for insurance, and $365,700 cash paid for inventory. The following balances have been excerpted from Dolan Corporation's balance sheet: Interest Receivable December 31, 2015 $18,200 December 31, 2016 $9,000 Salaries & Wages Payable $17,800 $ 25,400 Prepaid Insurance $ 1,200 $ 3,000 Inventory $33,000 $59,000 Accounts Payable $16,700 $35,500 Using the above information, determine Cash Received for Interest during 2016: QUESTION 6 In recording your answers for the next (3) questions, enter the expense as an absolute value (i.e. no parenthesis, brackets or negative signs...only the dollar amount). Using the information presented in #5 above, determine the amount of Salary Expense reported on the 2016 accrual based Income Statement: QUESTION 5 USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (4) QUESTIONS: The Income Statement of Dolan Corporation for 2016 included Interest Revenue for $131,000. The Cash ledger for the company for 2016 showed $160,600 cash paid for salaries, $14,400 cash paid for insurance, and $365,700 cash paid for inventory. The following balances have been excerpted from Dolan Corporation's balance sheet: Interest Receivable December 31, 2015 $18,200 December 31, 2016 $9,000 Salaries & Wages Payable $17,800 $ 25,400 Prepaid Insurance $ 1,200 $ 3,000 Inventory $33,000 $59,000 Accounts Payable $16,700 $35,500 Using the above information, determine Cash Received for Interest during 2016: QUESTION 6 In recording your answers for the next (3) questions, enter the expense as an absolute value (i.e. no parenthesis, brackets or negative signs...only the dollar amount). Using the information presented in #5 above, determine the amount of Salary Expense reported on the 2016 accrual based Income Statement: