On July 31, 2020. Blassom Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Blo5som issued a $326,400,3-year, 12% note payable at Netheriands National Bank, on which interest is payable each July 31.$217,400 of 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) at 10% unti November 1. On November 1, Blossom made a final $109,000 payment to Minsk, Other than the note to Netherlands, Blossom's only outstanding liability at December 31,2020 , is a $31.400,8%,6-year note payable, dated Januar

On July 31, 2020, Blossom Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Blossom issued a $326,400, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31 . $217,400 of 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) at 10% until November 1. On November 1, Blossom made a final $109,000 payment to Minsk. Other than the note to Netherlands, Blossom's only outstanding liability at December 31,2020 , is a $31,400,8%, 6-year note payable, dated January 1, 2017, on which interest is payable each December 31. Your answer is correct. Calculate the interest revenue, weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2020. Prepare the journal entries needed on the books of Blossom Company at each of the following dates. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) July 31, 2020. (2) November 1, 2020. (3) December 31, 2020. Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accumulated Depreciation-Machinery Accumulated Depreciation-Trucks Buildings Cash Computers Common Stock Contribution Expense Contribution Revenue Cost of Goods Sold Depreciation Expense Direct Labor Discount on Notes Payable Equipment Factory Overhead Forklift Furniture Gain on Disposal of Buildings Gain on Disposal of Equipment Gain on Disposal of Machinery Gain on Disposal of Trucks Gain on Disposal of Plant Assets Insurance Expense Interest Expense Interest Payable Interest Revenue Inventory Land Improvements Loss on Disposal of Buildings Loss on Disposal of Equipment Loss on Disposal of Machinery Loss on Disposal of Trucks Machinery Maintenance and Repairs Expense Materials Notes Payable Organization Expense Paid-in Capital in Excess of Par - Common Stock Prepaid Insurance Retained Earnings Salaries and Wages Expense Sales Revenue Trading Securities Trucks