Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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What was the balance in interest payable on the 2021
Transcribed Image Text:Hawk, Inc. reported on its 2022 Statement of Cash Flows that it
paid $95,400 for interest. The company reported $107,200 of
Interest Expense on the 2022 Income Statement. The balance in
Interest Payable on the 2022 Balance Sheet was $16,800.
What was the balance in Interest Payable on the 2021 Balance
Sheet?
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