Dallas Corp How Much Cash Was Received for Interest During 2018?

question 138

Multiple Choice

Dallas Corp.reported the following information for 2017 and 2018: $\begin{array}{lr}\text { Interest receivable, December } 31,2017 & \$ 1,100 \\\text { Interest receivable, December } 31,2018 & 1,400 \\\text { Interest income-2018 } & 3,200\end{array}$ How much cash was received for interest during 2018?

• A)$2,900
• B)$3,200
• C)$3,500
• D)$3,800

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