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On January 2, 2020 Swifty Corporation purchased land for an office site. Swifty began construction of the office building on January 3, 2020. The office
On January 2, 2020 Swifty Corporation purchased land for an office site. Swifty began construction of the office building on January 3, 2020. The office building was completed and ready for occupancy on December 31, 2020. To help pay for construction $3,670,000 was borrowed on January 2, 2020 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2020 was a $1,510,000, 10%, 6-year note payable dated January 1, 2019. Swity's expenditures for the project were as follows: January 2, 2020: $3,250,000 . April 1, 2020: 1,000,000 September 1, 2020: 900,000 December 31, 2020 500,000 What is the amount of weighted average expenditures? (do not use dollar signs, commas or decimal points in your answer) A What is the amount of avoidable interest? (do not use dollar signs, commas, or decimals in your answer) A What is the amount of actual interest? (do not use dollar signs, commas or decimal points in your answer) A What is the amount of interest What is the amount of weighted average expenditures? (do not use dollar signs, commas or decimal points in your answer) A/ What is the amount of avoidable interest? (do not use dollar signs, commas, or decimals in your answer) What is the amount of actual interest? (do not use dollar signs, commas or decimal points in your answer) What is the amount of interest capitalized? (do not use dollar signs, commas or decimal points in your answer) What is the amount of interest recorded as an expense on the income statement? (do not use dollar signs, commas or decimals in your answer)
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