Tulsa Corp. reported the following information for 2015 and 2016. Interest payable, December 31, 2015 $5,700
Interest payable, December 31, 2016 6,200
Interest expense--2016 12,250
How much cash was paid for interest during 2016?
A) $11,750
B) $12,250
C) $12,500
D) $12,750
Correct Answer:
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