Question 27 1 pts Use the information below to answer the following: 1/1/X9 12/31/X9 Prepaid interest $2,000 $1,200 $ 2,800 $ 1,400 Interest payable Accrual basis interest $ 70,000 expense What is cash paid for interest for the year? $69,200 $69,800 $70,200 $70,600 O $70,800