Interest expense of ($45,500) is recorded, after discount amortization of ($4,500). Interest payable has increased by ($2,000)
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Interest expense of \($45,500\) is recorded, after discount amortization of \($4,500\). Interest payable has increased by \($2,000\) during the year. How much cash was paid for interest?
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To determine the cash paid for interest we need to consider the change in the interest payable accou...View the full answer
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