If Interest Received Amounted to $45,700 for the Year,and the Interest

question 209

Multiple Choice

If interest received amounted to $45,700 for the year,and the interest receivable account began the year with a balance of $5,400 and ended the year with a balance of $3,250,the interest revenue reported on the income statement for the year was:

• A) $48,950
• B) $47,850
• C) $43,550
• D) $40,300

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