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During 20X2, a company paid $2,000,000 for construction of a building and $3,000,000 for the land on which the building was constructed. Additionally, for
During 20X2, a company paid $2,000,000 for construction of a building and $3,000,000 for the land on which the building was constructed. Additionally, for 20X2: avoidable interest of $590,000, total weighted-average accumulated expenditures of $1,800,000, and actual interest of $625,000. Construction was completed on 12/31/X2. What is the amount of Interest Expense recorded by the company for 20X2, if any? (Do not include any words or signs in your answer; enter number only. If none, enter "0") What is the cost of the building reported by the company on its 12/31/X2 balance sheet? (Do not include any words or signs in your answer; enter number only) $
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