Interest expense for the current year is $310,000.Interest payable increased $55,000 during the year.Interest receivable increased $11,000 during the year.Interest expense includes $47,000 for the amortization of discount.What is the cash paid for interest?
A)$208,000
B)$219,000
C)$310,000
D)$263,000

Question

Quizplus · Accepted Answer

$310,000 - Interest Payable $55,000 - Discount Amortized $47,000 = $208,000

Interest Expense for the Current Year Is $310,000