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

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 is the total amount of property tax and repair expense to be reported in Sandpiper's first quarter 2014 interim income statement?

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