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please show all work H Arlington Company had a building constructed during 2020. Expenditures were $6,400,000 on March 1, $5,280,000 on June 1, and $8,000,000
please show all work
H Arlington Company had a building constructed during 2020. Expenditures were $6,400,000 on March 1, $5,280,000 on June 1, and $8,000,000 on December 31. Arlington Company borrowed $3,200,000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6,400,000 note payable and an 11%, 4-year, $12,000,000 note payable. a. B What amount of interest should be charged to expense? $1,960,000 b. $1,404,780 $1,107,178 d. $1,020,778 C. o 1 2 3 4 5Step by Step Solution
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