Donnelly Company's balance in Interest Payable was $80,000 at December 31, 2020 and $65,000 at December 31, 2019. Interest expense was $92,000 for 2020 and $84,000 for 2019. What amount of cash disbursements for Interest would be reported in Donnelly's 2020 net cash provided by operating activities presented on a direct basis? O a. S69,000 O b. $84,000 O c. $72,000 O d. $77,000
Donnelly Company's balance in Interest Payable was $80,000 at December 31, 2020 and $65,000 at December 31, 2019. Interest expense was $92,000 for 2020 and $84,000 for 2019. What amount of cash disbursements for Interest would be reported in Donnelly's 2020 net cash provided by operating activities presented on a direct basis? O a. S69,000 O b. $84,000 O c. $72,000 O d. $77,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 7MC
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![Donnelly Company's balance in Interest Payable was $80,000 at December 31, 2020 and $65,000 at December 31, 2019. Interest expense was $92,000 for
2020 and $84,000 for 2019. What amount of cash disbursements for Interest would be reported in Donnelly's 2020 net cash provided by operating activities
presented on a direct basis?
O a. S69,000
O b. $84,000
O c. $72,000
O d. $77,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F98a825cc-9eb3-46df-8bba-91c1e0af5ccb%2F62990887-33ce-4e87-991f-9a737114322d%2F5q7jyyj.png&w=3840&q=75)
Transcribed Image Text:Donnelly Company's balance in Interest Payable was $80,000 at December 31, 2020 and $65,000 at December 31, 2019. Interest expense was $92,000 for
2020 and $84,000 for 2019. What amount of cash disbursements for Interest would be reported in Donnelly's 2020 net cash provided by operating activities
presented on a direct basis?
O a. S69,000
O b. $84,000
O c. $72,000
O d. $77,000
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