Window World Company's income statement for the year ending December 31, 2024 included the following items: Interest revenue $65,500 Salaries expense 85,000 Cost of goods sold 217,600 The company's comparative balance sheets included the following: 31-Dec-24 31-Dec-23 Interest receivable $9,100 $7,500 Salaries payable 8,900 4,200 Accounts payable 12,700 10,900 Inventory 36,100 32,500 What amount of cash was received for interest revenue during 2024? Select one: $65,500 $63,900 $67,100 $56,400
Window World Company's income statement for the year ending December 31, 2024 included the following items: Interest revenue $65,500 Salaries expense 85,000 Cost of goods sold 217,600 The company's comparative balance sheets included the following: 31-Dec-24 31-Dec-23 Interest receivable $9,100 $7,500 Salaries payable 8,900 4,200 Accounts payable 12,700 10,900 Inventory 36,100 32,500 What amount of cash was received for interest revenue during 2024? Select one: $65,500 $63,900 $67,100 $56,400
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 4SEA: FINANCIAL RATIOS Based on the financial statements for Jackson Enterprises (income statement,...
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Question
Window World Company's income statement for the year ending December 31, 2024 included the following items:
Interest revenue | $65,500 |
Salaries expense | 85,000 |
Cost of goods sold | 217,600 |
The company's comparative balance sheets included the following:
31-Dec-24 | 31-Dec-23 | ||
Interest receivable | $9,100 | $7,500 | |
Salaries payable | 8,900 | 4,200 | |
Accounts payable | 12,700 | 10,900 | |
Inventory | 36,100 | 32,500 |
What amount of cash was received for interest revenue during 2024?
Select one:
$65,500
$63,900
$67,100
$56,400
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