Q9.4: Hammer Company is constructing a new building to use as their lumber warehouse. It is expected to take one year in order to purchase and excavate the land, construct the building, and make the building ready for use. Hammer will obtain a construction loan that will require 120 monthly payments including Interest at the rate of 9%. Which statement is true regarding the recognition of the interest payments? Interest costs related to the new inventory will be recorded to the Buildings account on the date Hammer receives the inventory. Interest costs will be recorded to the Buildings account only until construction is completed. Interest costs will be recorded to the Buildings account beginning with the first monthly payment through the final payment Interest costs will be recorded to interest Expense beginning on the date Hammer receives the loan proceeds. B