Use the information provided below to calculate the cash paid for interest for the period.Interest payable, beginning-year $ 4,200Interest expense 26,700Interest payable, year-end 3,000Cash paid for interest $
What will be an ideal response?
| Interest expense | $ 26,700 |
| Decrease in interest payable ($4,200 - $3,000) | 1,200 |
| Cash paid for interest | $ 27,900 |
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Answer the following statement true (T) or false (F)
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a. True b. False Indicate whether the statement is true or false