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Homework answers / question archive / Interest revenue for the current year is $100,000
Interest revenue for the current year is $100,000. Interest payable inr„roed $41,000 during the year and Interest receivable increased $000 during the year. No discount or premium was amortized What is the cash received tor interest revenue?
O A. $45,000 o B. $59,000 O C. $155,000 o D. $100,000
Computation of Cash Received for Interest Revenue:
Cash Received for Interest Revenue = Interest Revenue for Current Year - Interest Receivable Increased during the Year
= $100,000 - $55,000
Cash Received for Interest Revenue = $45,000
So, the correct option is A "$45,000".
