A company had 400,000 8% Loan notes in issue on 1 January 2011 and repaid 150,000 of
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A company had £400,000 8% Loan notes in issue on 1 January 2011 and repaid £150,000 of it by 30 September. Interest in arrears was £8,000 on 1 January 2011 and £5,000 on 31 December 2011. Identify the cash outflow in respect of interest during the year ended 31 December 2011.
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Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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