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Gaston Co. reports the following amounts: Total interest expense in 2012 $100,000 Interest Payable at the end of 2012 $20,000 Interest Payable at the end

Gaston Co. reports the following amounts: Total interest expense in 2012 $100,000 Interest Payable at the end of 2012 $20,000 Interest Payable at the end of 2011 $30,000 Calculate the amount of cash paid for interest in 2012?

a. $130,000 b. $120,000 c. 110,000 d. $100,000 e. $90,000

How exactly do you get $110,000 as the answer?

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