California Condos
California Condos Uses the Accrual Basis of Accounting,and

California Condos
California Condos uses the accrual basis of accounting,and had the following account balances on its financial statements at December 31,2013.
$\begin{array}{ll} \text { Rent Revenue } &\$ 340,000 \\ \text { Accounts Receivable } &89,200 \\ \text { Utilities Payable } &12,000 \\ \text { Rent Expense } &22,000 \\ \text { Unearned Revenue } &17,000 \\ \text { Depreciation Expense } &12,000 \\ \text { Salaries Expense } &45,000 \\ \text { Salaries Payable } &4,000 \\ \text { Retained Eanings, January 1 } &60,000 \\ \text { Dividends } &2,500 \\ \text { Interest Revenue } &10,000\end{array}$

-Refer to California Condos.On January 1,the Utilities Payable Account had a zero balance.The company paid cash for utilities totaling $50,000 during 2013.How much should be reported as utilities expense for the year ended December 31,2013?