A company reported interest expense of 580000 for the year


A company reported interest expense of $580,000 for the year. Interest payable was $30,000 and $70,000 at the beginning and the end of the year, respectively. What was the amount of interest paid? $540,000. $650,000. $610,000. $620,000.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: A company reported interest expense of 580000 for the year
Reference No:- TGS01276368

Now Priced at $5 (50% Discount)

Recommended (96%)

Rated (4.8/5)