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The statement of profit or loss of Zang Co shows accrual-basis interest income for the...

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Accounting

The statement of profit or loss of Zang Co shows accrual-basis interest income for the year ended 30 June 2016 as $400. The comparative balance sheets show that interest receivable at 30 June 2015 and 30 June 2016 was $45 and $80 respectively. Determine the amount of cash received by way of interest during the year. Select one: a. $400 b. $45 c. $365 d. $435

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