QUESTION 1 Ella Ltd is a South African company with a 30 June year-end. During the 20.20 financial year, the company entered into the following foreign currency transaction: On 1 January 20.20, Ella Ltd negotiated a loan from a British bank, for an amount of 20 000, repayable in full on 31 December 20.22. Interest is payable in pounds () on the loan at a market related interest rate of 6,5% per annum, payable yearly on 31 December. Spot exchange rates 1 January 20.20 30 June 20.20 Average: 1 Jan 20.20-30 June 20.20 1 = R 20,10 20,40 20,06 REQUIRED: What is the balance of accrued interest that will be reflected in the statement of financial position of Ella Ltd as at 30 June 20.20? 1 points Save