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Johnson Company reported the following information for 2020 and 2021. Interest payable, Dec. 31, 2020 $16.000 Interest payable, Dec. 31, 2021 14,500 Interest expense for 2021 16,500 How much cash was paid for interest during 2021? O $18,000 O $15,000 O $16,500 $21,000

Johnson Company reported the following information for 2020 and 2021. Interest payable, Dec. 31, 2020 $16.000 Interest payable, Dec. 31, 2021 14,500 Interest expense for 2021 16,500 How much cash was paid for interest during 2021? O $18,000 O $15,000 O $16,500 $21,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am. 108.

Johnson Company reported the following information for 2020 and 2021. Interest payable, Dec. 31, 2020 $16.000 Interest payable, Dec. 31, 2021 14,500 Interest expense for 2021 16,500 How much cash was paid for interest during 2021? O $18,000 O $15,000 O $16,500 $21,000
Transcribed Image Text:Johnson Company reported the following information for 2020 and 2021. Interest payable, Dec. 31, 2020 $16.000 Interest payable, Dec. 31, 2021 14,500 Interest expense for 2021 16,500 How much cash was paid for interest during 2021? O $18,000 O $15,000 O $16,500 $21,000
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