Question
Agasse Industries began construction of a new facility and took out a $1,500,000, 8% construction loan on April 1, 2024. Agasse made payments to the
Agasse Industries began construction of a new facility and took out a $1,500,000, 8% construction loan on April 1, 2024. Agasse made payments to the general contractor of $382,000 on April 1, $882,000 on August 31, and $482,000 on December 31.
Required:
Compute the amount of interest that Agasse would capitalize in 2024.
Note: Do not round intermediate calculations.
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Cost Accounting A Managerial Emphasis
Authors: Charles T Horngren
5th Edition
0131796712, 978-0131796713
