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The following information relates to the Davensmith Company: Interest payable, beginning of period $ 60 Bond discount amortization, end of period 40 Interest payable, end of period 10 Total interest expense reported on the income statement 850 Bond discount amortization, beginning of period 70 What was the amount of interest paid? $820 $870 $830 $850

The following information relates to the Davensmith Company: Interest payable, beginning of period $ 60 Bond discount amortization, end of period 40 Interest payable, end of period 10 Total interest expense reported on the income statement 850 Bond discount amortization, beginning of period 70 What was the amount of interest paid? $820 $870 $830 $850

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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    The following information relates to the Davensmith Company:

    Interest payable, beginning of period $ 60
    Bond discount amortization, end of period 40
    Interest payable, end of period 10
    Total interest expense reported on the income statement 850
    Bond discount amortization, beginning of period 70

    What was the amount of interest paid?
    $820
    $870
    $830
    $850
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