A probable contingent loss is always disclosed in the footnote to financial statements. is not disclosed in the financial statements. is accrued only when the amount can be reasonably estimated. is always accrued. Previous Page Next Page . Avery Co. constructed a building. Construction began on January 1 and was completed on December 31 of 2020. The following expenditures were incurred during the year of construction: Date Expenditures April 1 $ 300,000 July 31 450,000 December 31 600,000 The weighted average accumulated expenditures for 2020 were $937,500 $412,500 $337,500 O $462,500 Avery Co. constructed a building. Construction began on January 1 and was completed on December 31 of 2020. To help pay for construction, the company obtained a $500,000 specific construction loan on January 1 with a 10% interest rate. Other than that, the company had two long-term notes of $300,000 and $600,000 with a weighted- average interest rate of 11%. Both notes were outstanding during the entire construction period. Assume that the weighted-average accumulated expenditures for the construction are $420,000, the amount of avoidable interest for year 2020 was? O $ 41,200 $ 42.000 $ 50,000 $ 46,200