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2. I only need the red boxes to be fixed

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Tamarisk Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $13,500,000 on January 1, 2020. Tamarisk expected to complete the building by December 31, 2020. Tamarisk has the following debt obligations outstanding during the construction period. $5,400,000 Construction loan-12% interest, payable semiannually, issued December 31, 2019 Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30, 2021 Long-term loan-11% interest, payable on January 1 of each year. Principal payable on January 1, 2024 4,050,000 2,700,000 Assume that Tamarisk completed the office and warehouse building on December 31, 2020, as planned at a total cost of $14,040,000, and the weighted average amount of accumulated expenditures was $9,720,000. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, eg. 7.58% for computational purposes and round final answers to O decimal places, eg. 5,275.) Avoidable Interest $ e Textbook and Media Compute the depreciation expense for the year ended December 31, 2021. Tamarisk elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $810,000. (Round answer to 0 decimal places, eg. 5,275.) Depreciation Expense $ ta Tamarisk Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2020. The terms of acquisition for each truck are described below. 1. 2. Truck #1 has a list price of $ 45,750 and is acquired for a cash payment of $ 42,395. Truck #2 has a list price of $ 48,800 and is acquired for a down payment of $ 6,100 cash and a zero-interest-bearing note with a face amount of $ 42,700. The note is due April 1, 2021. Tamarisk would normally have to pay interest at a rate of 9% for such a borrowing, and the dealership has an incremental borrowing rate of 8%. Truck #3 has a list price of $ 48,800. It is acquired in exchange for a computer system that Tamarisk carries in inventory. The computer system cost $ 36,600 and is normally sold by Tamarisk for $ 46,360. Tamarisk uses a perpetual inventory system. Truck #4 has a list price of $ 42,700. It is acquired in exchange for 900 shares of common stock in Tamarisk Corporation. The stock has a par value per share of $ 10 and a market price of $ 13 per share. 3. 4. Prepare the appropriate journal entries for the above transactions for Tamarisk Corporation. (Round present value factors to 5 decimal places, eg. 0.52587 and final answers to 2 decimal places, eg. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. Trucks 42395 Cash 42395 2. Trucks 45256 Discount on Notes Payable 3544 Cash 6100 Notes Payable 42700 Blue Corporation traded a used truck (cost $ 28,000, accumulated depreciation $ 25,200) for a small computer with a fair value of $ 4,620. Blue also paid $ 700 in the transaction. Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Trucks 4,620 Accumulated Depreciation-Trucks 25,200 Trucks 28,000 Cash 700