Business, 09.12.2021 03:10 kayolaaaa53

In its Year 2 financial statements, Cris Co. reported interest expense of $85,000 in its income statement and cash paid for interest of $68,000 in its cash flow statement. There was no prepaid interest or interest capitalization either at the beginning or end of Year 2. Accrued interest at December 31, Year 1, was $15,000. What amount should Cris report as accrued interest payable in its December 31, Year 2 balance sheet?

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In its Year 2 financial statements, Cris Co. reported interest expense of $85,000 in its income stat...

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