If Prepaid Interest at the Beginning of the Period Was

question 31

Multiple Choice

If prepaid interest at the beginning of the period was zero and at the end of the period was $4,000, and interest expense appears in the income statement for the year as $17,300, how much was paid out in cash for interest during the year?

• A) $13,300
• B) $17,300
• C) $21,300
• D) $4,000

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