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On January 1, 2021, Jamison Inc. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures
On January 1, 2021, Jamison Inc. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows:
January 1, 2021 $ 300,000
September 1, 2021 $ 450,000
December 31, 2021 $ 450,000
March 31, 2022 $ 450,000
September 30, 2022 $ 300,000
Jamison Inc. had $5,000,000 in 12% bonds outstanding through both years.
What was the final cost of Jamison's warehouse?
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