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What shoud goes on the red boxes please, I don't want the other things on green. what exactelly as short term investemnrt? Exercise 10-9 On
What shoud goes on the red boxes please, I don't want the other things on green. what exactelly as short term investemnrt?
Exercise 10-9 On July 31, 2017, Pearl 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 Pearl issued a $270,000, 3- year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $175,000 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 November 1 . On November 1, Pearl made a final $95,000 payment to Minsk. Other than the note to Netherlands, Pearl's only outstanding liability at December 31, 2017, is a $31,000, 8%, 6-year note payable, dated January 1,2014, on which nterest is payable each December 31. 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 2375 Weighted-average accumulated expenditures 43750 Avoidable interest 5250 Interest capitalized 5250Step by Step Solution
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