Your audit client, The Brant Group, reported total interest expense for the year of $2,000...

Your audit client, The Brant Group, reported total interest expense for the year of $2,000. The table below provides the monthly balance of their long-term debt. Interest is paid monthly on the average daily balance during the month. The annual interest rate for the debt is 6%.

Required:

Based on the data provided, do you consider the reported interest expense fairly stated? Why or why not?