The Keweenaw Sunshine Development Corporation reported the following for the year ended December 31,2014: $$\begin{array}{l}
\begin{array} { l c c }
& \underline { 1 / 1 / 14 } & \underline { 12 / 31 / 14 } \
\text { Discount on Bonds Payable } & \$ 17,500 & \$ 15,750 \
\text { Interest Payable } & \$ 19,500 & \$ 17,350
\end{array}\
\text { Interest Expense } \$ 47,750
\end{array}$$
How much cash did Keweenaw pay for interest during 2014?
A)$51,650
B)$43,850
C)$48,150
D)$46,350

Question

The Keweenaw Sunshine Development Corporation reported the following for the year ended December 31,2014: $$\begin{array}{l}
\begin{array} { l c c } 
 & \underline { 1 / 1 / 14 } & \underline { 12 / 31 / 14 } \
\text { Discount on Bonds Payable } & \$ 17,500 & \$ 15,750 \
\text { Interest Payable } & \$ 19,500 & \$ 17,350
\end{array}\
\text { Interest Expense } \$ 47,750
\end{array}$$
How much cash did Keweenaw pay for interest during 2014?
A)$51,650
B)$43,850
C)$48,150
D)$46,350

Quizplus · Accepted Answer

The Answer of The Keweenaw Sunshine Development Corporation reported the following for the year ended December 31,2014: $$\begin{array}{l}
\begin{array} { l c c } 
 & \underline { 1 / 1 / 14 } & \underline { 12 / 31 / 14 } \
\text { Discount on Bonds Payable } & \$ 17,500 & \$ 15,750 \
\text { Interest Payable } & \$ 19,500 & \$ 17,350
\end{array}\
\text { Interest Expense } \$ 47,750
\end{array}$$
How much cash did Keweenaw pay for interest during 2014?
A)$51,650
B)$43,850
C)$48,150
D)$46,350

The Keweenaw Sunshine Development Corporation Reported the Following for the Year