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Determine the amount of cash received by way of interest

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Reference no: EM133012341

Problem 1: The income statement of Zang Co shows accrual-basis interest income for the year ended 30 June 2006 as K400. The comparative balance sheets show that interest receivable at 30 June 2005 and 30 June 2006 were K45 and K80 respectively. Determine the amount of cash received by way of interest during the year.

A. K45

B. K365

C. K400

D. K435

E. None of the above

Reference no: EM133012341

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