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Compute the amount of cash paid for interest

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Problem - Ball Company's income statement for 20-2 reported interest expense of $1,540. The comparative balance sheet as of December 31, 20-2 and 20-1, reported the following:

 

20-2

20-1

Accrued interest payable

$260

$220

Required - Compute the amount of cash paid for interest in 20-2.

Reference no: EM132724352

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