Smith & Sons reports interest expense of ($90,000) on its income statement. The beginning and ending balances

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Smith & Sons reports interest expense of \($90,000\) on its income statement. The beginning and ending balances for interest payable reported on its balance sheet are \($10,000\) and \($15,000,\) respectively. How much cash did Smith & Sons pay for interest expense this period?

a. \($85,000\)

b. \($95,000\)

c. \($100,000\)

d. \($105,000\)


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Managerial Accounting For Undergraduates

ISBN: 9781618531124

1st Edition

Authors: Christensen, Theodore E. Hobson, L. Scott Wallace, James S.

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