Question - During 2010, Burlington Company incurred operating expenses amounting to $600,000, of which $550,000 was paid in cash; the balance will be paid in January 2011. On the 2010 income statement of the company, what amount should be reported for operating expenses?
A. $550,000.
B. $560,000.
C. $600,000.
D. $1,150,000.