On July 31, 2020. Crane 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 Crane issued a $270,000, 3-year, 12% note payable at Netherlands National Bank on which interest is payable each July 31. $169,000 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, Crane made a final $101.000 payment to Minsk. Other than the note to Netherlands. Crane's only outstanding liability at December 31, 2020, is a $30,100,8%, 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 Interest revenue $ 2525 Weighted average accumulated expenditures $ 42250 Avoidable interest $ 5070 Interest capitalized $ 5070 x Your answer is incorrect. Prepare the journal entries needed on the books of Crane 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 for the amounts) (1) 123 July 31, 2020 November 1, 2020 December 31, 2020 13) Date Account Titles and Explanation Debit Credit X Your answer is incorrect. Prepare the journal entries needed on the books of Crane Company at each of the following dates. (Credit account tities 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 o for the amounts) (1) July 31, 2020 (2) November 1, 2020 (3) December 31, 2020 Date Account Titles and Explanation Debit Credit (To record the note.) (To record the payment to Minsk.) LIAI LA MATA (To record the payment to Minsk.) 12/31