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Marine industries inc started construction of manufacturing facility for its own use of $10200000 0n January 1, 2017. Marine expect to complete the building by
Marine industries inc started construction of manufacturing facility for its own use of $10200000 0n January 1, 2017. Marine expect to complete the building by December 31,2017. Marin debt, all of which was outstanding during the construction period was as follows.
Construction loan-11% interest payable, semiannually issued December 31, 2016; $51000000.
Loong term loan#1- 10% interest payable on January each year. Principal payable on January 1, 2019; $1530000
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