A company reported interest expense of $540,000 for the year. Interest payable was $34,000 and $74,000...

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A company reported interest expense of $540,000 for the year. Interest payable was $34,000 and $74,000 at the beginning and the end of the year, respectively. What was the amount of interest paid? A company reported interest expense of $540,000 for the year. Interest payable was $34,000 and $74,000 at the beginning and the end of the year, respectively. What was the amount of interest paid?

Answer rating: 100% (QA)

To calculate the amount of interest paid during the year you can use the formula Interest ... View the full answer