Olsen Company paid or collected during 2014 the following items:
Insurance premiums paid $ 25,800
Interest collected 62,800
Salaries paid 260,400
The following balances have been excerpted from Olsen's balance sheets:
December 31, 2014 December 31, 2013
Prepaid insurance $ 2,400 $ 3,000
Interest receivable 7,400 5,800
Salaries and wages payable 24,600 21,200
The interest revenue on the income statement for 2014 was
A) $49,600.
B) $61,200.
C) $64,400.
D) $76,000.
