ASAP PLEASE

On March 1, 2020. Concord Corporation purchased land for an office site by paying 52780000 cash. Concord began costruction on the office building on March 1. The following expenditures were incurred for construction Date March 1, 2020 April 1, 2020 Expenditures $1780000 2490000 4400000 4850000 May 1, 2020 June 1, 2020 The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land 500 wa borrowed on March 1, 2020 on a 9%, 3-year note payable Other than the construction note, the only debt outstanding during 2020 was a $1430000, 12%, 6-year note payable dated January 1, 2020. The actual interest cost incurred during 2020 was $247800. $495600. $441600 $413000 Attempts: 0 of 1 used Submit