Getwell Hospital provides you with the following information: 12/31/X2 12/31/X1 Accrued interest receivable $4,100 $3,900 Prepaid interest 6,400 5,700 Accrued interest payable 3,200 3,600 Deferred interest income 4,800 5,300 In 20X2, the hospital received $38,000 of interest in cash and paid $54,000 of interest. What should be reported in the hospital's 20X2 statement of operations as (1) interest expense and (2) interest income?
Getwell Hospital provides you with the following information: 12/31/X2 12/31/X1 Accrued interest receivable $4,100 $3,900 Prepaid interest 6,400 5,700 Accrued interest payable 3,200 3,600 Deferred interest income 4,800 5,300 In 20X2, the hospital received $38,000 of interest in cash and paid $54,000 of interest. What should be reported in the hospital's 20X2 statement of operations as (1) interest expense and (2) interest income?
Chapter6: Investing And Financing Activities
Section: Chapter Questions
Problem 2.8C
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Getwell hospital provides you with the following information:
Transcribed Image Text:Getwell Hospital provides you with the following information:
12/31/X2 12/31/X1
Accrued interest receivable $4,100
$3,900
Prepaid interest
6,400
5,700
Accrued interest payable
3,200
3,600
Deferred interest income
4,800
5,300
In 20X2, the hospital received $38,000 of interest in cash and paid $54,000 of
interest.
What should be reported in the hospital's 20X2 statement of operations as
(1) interest expense and (2) interest income?
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