Determine the total cost to be allocated to the land.

Determine the interest expense for 2018 and the carrying value of the note on Dec. 31, 2018, after the

adjusting entry for interest expense has been made. (Round to the nearest dollar.)

On January 1, 2017, a company purchased land for a future warehouse site. A $50,000 down payment is made on that date. Annual payments of $70,000 for the 790, 10-year loan are to start on Dec. 31, 2017. 3. Determine the total cost to be allocated to the land $517,080 $491,680 $541,680 $750,000 S405,600 Determine the interest expense for 2018 and the carrying value of the note on Dec. 31, 2018, after the adjusting entry for interest expense has been made. (Round to the nearest dollar.) 4. 2018 Interest Expense 12/31/18 Carrying_Value $31,927 $35,672 $25,479 S33,829 $47,530 $418,025 $475,270 $319,471 S447,105 $656,530