The following information relates to the Davenport Company: $\begin{array}{ll}\text{ Accrued interest payable, begining of period }& \$60\\ \text{ Prevaidinterest end of period.}& 40\\ \text{ Accrued interest payable, end of period }& 10\\ \text{ Total interest expense reported on the income statement }& 750\\ \text{ Prepaid interest, beginning of period }& 70\end{array}$
What was the amount of cash payments for interest?

A) $720
B) $730
C) $750
D) $770

Accrued Interest Payable

Interest that has been incurred but not yet paid during a given accounting period, representing a liability on the balance sheet.

Interest Expense

Expenses an entity faces for using borrowed money over a specific duration.

Prepaid Interest

Interest that is paid in advance of the period to which it applies, often relating to mortgage or loan agreements.