Interest expense for the current year is $290,000. Interest payable increased $53,000 during the year. Interest...

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Interest expense for the current year is $290,000. Interest payable increased $53,000 during the year. Interest receivable in

business accounting

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Answer 1

Answer #1

Solution:

Cash Paid for Interest = Interest Expenses for current Year - Amortization of Discount - Increase in Interest Payble

= $290,000 - $47,000 - $53,000

=$190,000

Therefore,

Option (c) $190,000 is the correct Option.

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Answer 2

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