Solution-What was the amount of interest paid

What was the amount of interest paid

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Question 1: A company reported interest expense of $590,000 for the year. Interest payable was $33,000 and $73,000 at the beginning and the end of the year, respectively. What was the amount of interest paid?

Multiple Choice

Option 1: $550,000.

Option 2: $623,000.

Option 3: $663,000.

Option 4: $630,000.

Reference no: EM132605778

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What was the amount of interest paid

Reference no: EM132605778

Reference no: EM132605778

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