Joe is performing the audit of Procast Pty Ltd for the year ended 30 June 20X1. He has assessed the reasonableness of the interest expense by comparing actual interest expense incurred in the year to the interest expense derived from the average debt in the year. This test will also help in determining whether additional audit procedures need to be performed over interest expense transactions in the year. Joe has also reviewed debt covenants with lenders.

Which of the following procedures did Joe perform?