Use the Information Provided to Calculate the Missing Cash Received

question 234

Essay

Use the information provided to calculate the missing cash received for interest for the period.
$\begin{array}{|l|l|} \hline \text { Interest receivable, beginning-year } & \$800\\\hline \text { Interest revenue } &12,600\\\hline \text { Interest receivable, year-end } &1,200\\ \hline\text { Cash received for interest.} &\\ \hline \end{array}$

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Definitions:

Government Fund

A financial allocation from the government aimed at supporting specific projects, sectors, or initiatives, often involving public resources.

Cafeteria-Style Benefits Plans

Allow employees to choose those benefits they really want.

Adverse Selection

A situation in economics and insurance where a party’s lack of information leads to a transaction with another party who has a distinct advantage, often seen in markets for goods like used cars or in health insurance.

Benefit Costs

The expenses incurred by an organization in providing benefits such as health insurance, retirement plans, and leave entitlements to its employees.