In its cash flow statement for the current year, Fox Co. reported cash received for...
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Accounting
In its cash flow statement for the current year, Fox Co. reported cash received for bond interest of $25,000. Purchased at a discount, Fox increased its bond investment account by $2,000 for amortization during the current year, and an decrease occurred in this balance sheet account:
Accrued interest receivable $5,000
In its income statement for the current year, what amount should Fox report as interest revenue?
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