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The statement of income showed bond interest expense of $11,520 while the statement of financial position showed that the carrying amount of the bonds payable
The statement of income showed bond interest expense of $11,520 while the statement of financial position showed that the carrying amount of the bonds payable had increased by $1,520. Assuming no other transactions affected bonds during the period, the cash paid for bond interest was
a.
$1,520
b.
$11,520
c.
$10,000
d.
$13,040
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