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If Prepaid Interest at the Beginning of the Period Was

Question 32

Multiple Choice

If prepaid interest at the beginning of the period was zero and at the end of the period was $4,000 and interest expense appears in the statement of comprehensive income for the year as $17,300, how much was paid out in cash for interest during the year?


A) $13,300.
B) $21,300.
C) $17,300.
D) $4,000.

Correct Answer:

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