Sandpiper Corporation Paid $120,000 for Annual Property Taxes on January

question 3

Multiple Choice

Sandpiper Corporation paid $120,000 for annual property taxes on January 15,2014,and $20,000 for building repair costs on March 10,2014.Total repair expenses for the year were estimated to be $200,000,and are normally accrued during the year until incurred.What total amount of expense for these items was reported in Sandpiper's first quarter 2014 interim income statement?

• A)$ 50,000
• B)$ 80,000
• C)$100,000
• D)$140,000

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