Masiya Traders obtained an unsecured loan for an amount of R308 000 at the beginning of the current financial year from ABC Bank at an interest rate of 14% per annum. 50% of the loan was repaid on 1 March 2024 and the remainder needs to be repaid on 1 March 2025. The interest is not capitalised but paid to the bank on the day the loan is repaid. Masiya Traders current financial period ends on 31 May 2024 and according to the extract from pre-adjustment trial balance as at 31 May 2024, interest on loan amounted to R32 340.

The amount for interest payable to be shown in the statement of financial position for the year ended 31 May 2024 will be?

Instructions:

1. Use a full stop to indicate any decimals (eg: 70.01)

2.  Round off to the nearest R (eg: 50.56 is 51)

3. Only show the amount, do not show the R (eg: 12141)