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On March 1, Mocl Co. began construction of a small building. The following expenditures were incurred for construction: March 1 $324,000 April 1 251,000
On March 1, Mocl Co. began construction of a small building. The following expenditures were incurred for construction: March 1 $324,000 April 1 251,000 May 1 753,000 June 1 1,119,000 July 1 398,000 The building was completed and occupied on July 1. To help pay for construction $224,000 was borrowed on March 1 on a 12%, three- year note payable. The only other debt outstanding during the year was a $2,000,000, 10% note issued two years ago. Calculate the weighted-average accumulated expenditures. (Do not leave any answer field blank. Enter O for amounts.) Date Expenditures Capitalization Period March 1 $324,000 April 1 251,000 May 1 753,000 +A $ Weighted-Average Accumulated Expenditure June 1 1,119,000 July 1 398,000 > > $ Calculate avoidable interest. (Round answer to O decimal places, e.g. 12,515.) Avoidable interest $
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