A company reported interest expense of

$520,000

for the year. Interest payable was

$29,000

and

$69,000

at the beginning and the end of the year, respectively. What was the amount of interest paid?\ Multiple Choice\

$589,000

\

$480,000

\

$549,000

\

$560,000

A company reported interest expense of $520,000 for the year. Interest payable was $29,000 and $69,000 at the beginning and the end of the year, respectively. What was the amount of interest paid? Multiple Choice $589,000 $480,000 $549,000 $560,000