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The interest paid is in respect of a company’s 6% loan notes, with interest for six months of 24600 being paid on 1 january 2022. Interest of 12300 will be accrued at 31 march 2022, with the corresponding accrual at 1 december 2021 being 20500. The loan notes were issued in order to finance the company’s trading activities.
Why is the amount of interest payable 16400. Why has 24600 been added to the 12300 and 20500 deducted.
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