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Doug and pattie received the following interest income in

Question - Doug and Pattie received the following interest income in the current year

Savings account at Greenbacks Bank - $4,000

United States Treasury bonds - $250

Interest on State of Virgina bonds - $200

Interest on Federal tax refund - $150

Interest on state income tax refund - $75

Greenbacks Bank also gave Doug and Pattie a cellular phone (worth $100) for opening the savings account. What amount of interest income should they report on their joint income tax return?

a. $4,775

b. $4,675

c. $4,575

d. $4,300

e. None of the above

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Accounting Basics: Doug and pattie received the following interest income in

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