A company reported annual interest expense of $78,000. During the year, interest payable decreased from a $10,200 beginning balance to a $9,120 ending balance.
How much cash was paid for interest during the year?

Question

A company reported annual interest expense of $78,000. During the year, interest payable decreased from a $10,200 beginning balance to a $9,120 ending balance. 
How much cash was paid for interest during the year?

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The Answer of A company reported annual interest expense of $78,000. During the year, interest payable decreased from a $10,200 beginning balance to a $9,120 ending balance. 
How much cash was paid for interest during the year?

A Company Reported Annual Interest Expense of $78,000