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Montgomery Industries spent $690,000 in 2023 on construction project to build a library. Montgomery also capitalized $34,500 of interest on the project in 2023.
Montgomery Industries spent $690,000 in 2023 on construction project to build a library. Montgomery also capitalized $34,500 of interest on the project in 2023. Montgomery financed 100% of the construction with a 10% construction loan. The project was completed on September 30, 2024. Additional expenditures in 2024 were as follows: February 28 April 30 July 1 September 30 Required: $ 98,100 188,100 44,100 72,100 Determine the completed cost of the library. Note: Do not round intermediate calculations. Completed cost of the library
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