I attached the starting trial balance and what I did on Excel but still confused about this question.

On January 1 2020, the company signed a contract for the construction of a new factory. To finance this expansion, the company obtained a specific $3,200,000 construction loan at an annual interest rate of 20% per year. The factory was completed on December 31 2020. The total construction cost (excluding borrowing and interest costs) was $3,200,000.

The loan financed the construction costs of the factory. Construction fees of $2,000,000 were paid to the construction on January 1 2020, with a further $1,200,000 paid to the contractor on October 1st 2020. The unused portion of this loan was invested on the money markets at a rate of return equal to 10% per year. The interest income and loan interest are already included in the ending trial balance above.

Trial balance for Marv Ltd as at 31 December 2020 2 $00Os $OOOs 3 Common Stock ($1 shares) 5100 4 Trade and other accounts payable 900 Revenue 4300 Beginning Inventory at 1 January 2020 Raw materials used in production 400 8 Production and facttory wages 200 9 Factory Rent for 2020 100 10 Plant and equipment at cost 5000 11 Administration expenditure 200 12 Distribution expenditure 13 Cash 250 14 Research and development expenditure 1900 15 Patent on legal costs 700 16 Loan interst paid on construction loan (before capitalization) 640 17 Interest received on unused portion of construction loan 90 18 Manufacturing facilty at construction cost (excluding borrowing costs) 3200 19 Construction loan 3200 20 Freehold land at cost 1000 21 13590 13590 22 Workings 23 Inventories at 31 December 2020 First-in- first-out (FIFO) 400 24 Avarage cost 700 25 LIFO 1200 26 Research and development expenses Research 500 27 Development 1400 28 USEFUL LIFE 10 29 Depreciation of plant & machinery COST 5000 30 SCRAP 500 31 USEFUL LIFE 32 STRAIGHT LINE 33 YEAR END DEPN ACC DEPN BOOK VALUE 34 1125 1125 3875 35 36 37 W N 1125 2250 2750 1125 3,375 1.625 125 4,500 500 38 DIMINISHING BALANCE 44% 1-((S/C)^(1/4)) 39 YEAR END DEPN ACC DEPN BOOK VALUE 40 2188 2188 2812 41 1231 3419 1581 42 692 4111 889 43 389 4500 500Interest on construction loan 20% 640 Accrued Question 7 Income on unused construction loan From Until Amount Months annual equivalent amount of loan used on project 1/1/2020 9/30/2020 120 ? Construction cost of Factory facility Building cost 3200 Amount Months Annual equivalent amount of loan used on project Payment 1/1/2020 2000 ? ? 10/1/2020 1200 ? Valuation of freehold land Capitalized loan interest US GAAP Cost 1000 IFRS Market value 1900 Specific loan all interst cap