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On March 1, Mocl Co. began construction of a small building. The following expenditures were incurred for construction: The building was completed and occupied on
On March 1, Mocl Co. began construction of a small building. The following expenditures were incurred for construction: 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 0 for amounts.) Calculate avoidable interest. (Round answer to 0 decimal places, eg. 12,515.)
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