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Please provide thorough explanation for each labeled section. On March 1, Moc Co. began construction of a small building, The following expenditures were incurred for
Please provide thorough explanation for each labeled section.
On March 1, Moc Co. began construction of a small building, The following expenditures were incurred for construction March 1 225,000 April 1 222,000 May 1 540,000 June 1 810,000 July 1 300,000 The building was completed and occupied on July 1.To help pay for construction $150,000 was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a $1,500,000, 10% note issued two years ago. Instructions (a) Calculate the weighted-average accumulated expenditures. (b) Calculate avoidable interestStep by Step Solution
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