2019 2020 2019 2020 Cash $1,300 $1,100 Accounts payable $2,100 $2,900 Accounts receivable $4,100 $4,400 Utilities payable $200 $450 Inventory $7,500 $8,800 Salaries payable $800 $1,80C Prepaid insurance $1,200 $1,500 Notes payable $18,000 $15,000 Equipment $16,000 $16,000 Interest payable $2,300 $2,600 Accum. depreciation ($2,400) ($3,600) Common stock $6,000 $6,000 Land $4,500 $9.200 Retained earnings $2,800 $8.650 $32,200 $37,400 $32,200 $37,40C Given the above information, how much cash was paid for depreciation during 2020? O $1,200 $0 O $3,600 O $2,400 $6,000

2019 2020 2019 2020 Cash $1,300 $1,100 Accounts payable $2,100 $2,900 Accounts receivable $4,100 $4,400 Utilities payable $200 $450 Inventory $7,500 $8,800 Salaries payable $800 $1,80C Prepaid insurance $1,200 $1,500 Notes payable $18,000 $15,000 Equipment $16,000 $16,000 Interest payable $2,300 $2,600 Accum. depreciation ($2,400) ($3,600) Common stock $6,000 $6,000 Land $4,500 $9.200 Retained earnings $2,800 $8.650 $32,200 $37,400 $32,200 $37,40C Given the above information, how much cash was paid for depreciation during 2020? O $1,200 $0 O $3,600 O $2,400 $6,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 16P: Tenth National Bank has a 200,000, 12% note receivable from Priday Company that is due on December...

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