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Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31 . Expenditures were $6,400,000 on March 1 ,
Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31 . Expenditures were $6,400,000 on March 1 , $5,280,000 on June 1 , and $8,000,000 on December 31 . Arlington Company borrowed $3,200,000 on January 1 on a 5 -year, 12% note to help finance the construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6,400,000 note payable and an 11%,4-year, $12,000,000 note payable. What were weighted-average accumulated expenditures for the year? A) $8,413,333 B) $9,840,000 C) $11,680,000 D) $19,680,000
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