Question 5 On July 31, 2017, Sheridan Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2017, To help finance construction, on July 31 Sheridan issued a $322,800, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $222,800 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable securities trading securities at 10% until No ember 0 ovember 1 Sheridan made a final $100,000 payment to Minsk. Other than the note to Netherlands, Sheridan's only outstanding liability at December 31, 2017, is a $32,800, 8%, 6-year note payable, dated January 1, 2014, on which interest is payable each December 31. Your Answer Correct Answer Your answer is correct. Calculate the interest revenue, weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2017. Interest revenue 2500 $ Weighted-average accumulated expenditures Avoidable interest Interest capitalized 55700 6684 6684 Date Account Titles and Explanation Debit Credit 7/31 To record the note.) (To record the payment to Minsk.) (To record the proceeds from the investment.) (To record the payment to Minsk.) 12/31