Tulsa Corp How Much Cash Was Paid for Interest During 2018?

question 70

Multiple Choice

Tulsa Corp.reported the following information for 2017 and 2018: $\begin{array}{lr}\text { Interest payable, December } 31,2017 & \$ 5,700 \\\text { Interest payable, December 31,2018 } & 6,200 \\\text { Interest expense-2018 } & 12,250\end{array}$ How much cash was paid for interest during 2018?

• A)$11,750
• B)$12,250
• C)$12,500
• D)$12,750

---

Definitions:

Explain

To make (an idea, situation, or problem) clear to someone by describing it in more detail or revealing relevant facts or ideas.

Establishment Clause

A provision within the First Amendment of the U.S. Constitution that prohibits the government from establishing an official religion.

Free Exercise Clause

A provision in the First Amendment of the U.S. Constitution that guarantees individuals the right to practice their religion freely, without government interference.

General Welfare Clause

Refers to a section of the United States Constitution empowering Congress to pass laws that are for the good of the country as a whole.