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Use the information below to answer the following: 1/1/X0 12/31/X0 Unearned interest $5,800 $ 5,000 Prepaid interest $ 700 $ 500 Accrual basis interest expense
Use the information below to answer the following: 1/1/X0 12/31/X0 Unearned interest $5,800 $ 5,000 Prepaid interest $ 700 $ 500 Accrual basis interest expense $ 20,000 What is cash paid for interest for the year? $19, 200 $19,800 c. $20,200 $20,600 $20,800
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