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On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures
On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows:
January 1, 2024 | $ 320,000 |
---|---|
September 1, 2024 | $ 480,000 |
December 31, 2024 | $ 480,000 |
March 31, 2025 | $ 480,000 |
September 30, 2025 | $ 320,000 |
The company had $6,000,000 in 14% bonds outstanding through both years.
Average accumulated expenditures for 2024 were:
Multiple Choice $480,000. $320,000. $560,000. $640,000Step by Step Solution
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