JAMPUC If the interest payable account had a $5,000 balance at the beginning of the year; a $3,000 balance at the end of the year; and an interest expense of $30,000 how much cash was used for interest during the year? Assume the firm has only one interest bearing liability and it is a note payable. A. $30,000 B. $32,000 C. $28,000 D. None of the above