On 1 January 2021, Bajra plc had 4m 3.75% loan notes in issue, interest being...
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On 1 January 2021, Bajra plc had 4m 3.75% loan notes in issue, interest being payable twice annually on 28 February and 31 August. On 1 May 2021, the company issued a further 2m 3.00% loan notes at par, interest being payable half yearly on 30 April and 31 October each year. On 30 November 2021, the company redeemed 1m of the 3.75% loan notes at par, paying the interest due up to that date. What figure should appear for interest expense in the Statement of Profit or Loss (or Income Statement) of Bajra plc for its year ended 31 December 2021?
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