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What the interest expense for the year to june

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Question - On 1 July 2019, a company which prepares financial statements to 30 June each year enters into a 4-year lease of property. The company is required to make four lease payments of £10,000 each. These payments fall due on 30 June 2020, 2021, 2022 and 2023. The rate of interest implicit in the lease is 9.75% per annum. What the interest expense for the year to 30 June 2021?

Reference no: EM133145403

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