lling On December 31, 2019, Pharoah Inc. borrowed $3.360.000 at 13% payable ally to finance the construction of aw 2020, the company made the following expenditures related to this building March 1, 5403,200 June 1.1672000 My 1 $1.680,000: December 1, $1.680.000. The building was completed in February 2001. Additional information is provided as f 1. Other debt outstanding 10-year, 14% bond, December 31, 2013, interest payable annually $4,480,000 6-year, 11% note, dated December 31, 2017, interest payable annually $1.792.000 2. March 1, 2020, expenditure included land costs of $168.000 3. Interest revenue earned in 2020 $54,880