Use the Following Information for the Following Questions:
Orange Corp

question 53

Multiple Choice

Use the following information for the following questions:
Orange Corp reported the following items on its calendar 2020 statement of comprehensive income:
$\begin{array}{llcc} \text { Interest revenue..................... } &\$84,200 \\ \text { Salaries expense..................... } &72,000\\ \text { Insurance expense.................. } &10,600\\\end{array}$
As well, their statements of financial position showed the following balances:
$\begin{array}{llcc} &\underline{\text {December 31, 2019 } } &\underline{ \text {December 31. } } \\ \underline{\text {2020 }} & & \\ \text {Accrued interest receivable................ } &\$10,100&\$8,800\\ \text { Accrued salaries payable...................} &9,800&5,400\\ \text { Prepaid insurance..............................} &1,500&1,600\\\end{array}$

-The cash received for interest during 2020 was

• A) $ 82,900.
• B) $ 84,200.
• C) $ 85,500.
• D) $ 74,100.

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Information or understanding that is incorrect or based on errors.

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