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Question 21 On January 2, 2020, Crane Company began construction of a new citrus processing plant. The automated plant was finished and ready for use
Question 21
On January 2, 2020, Crane Company began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows:
| January 2, 2020 | $ 604000 |
| September 1, 2020 | 1800000 |
| December 31, 2020 | 1800000 |
| March 31, 2021 | 1800000 |
| September 30, 2021 | 1197000 |
Crane Company borrowed $3350000 on a construction loan at 13% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12100000 in 10% bonds outstanding in 2020 and 2021. What were the weighted-average accumulated expenditures for 2020?
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