On July 31, 2014, Amsterdam Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2014. To help finance construction, on July 31 Amsterdam issued a $645,600,3-year,10% note payable at Netherlands National Bank, on which interest is payable each July 31. $514,600of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable securities (trading securities) at8% until November 1. On November 1, Amsterdam made a final $131,000payment to Minsk. Other than the note to Netherlands, Amsterdams only outstanding liability at December 31, 2014, is a $32,500,6%,6-year note payable, dated January 1, 2011, on which interest is payable each December 31.

Calculate the interest revenue, weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2014.

prepare the journal entries for:

7/31 (To record the note.) (To record the payment to Minsk.) 11/1 (To record the proceeds from the investment.) (To record the payment to Minsk.) 12/31