Business, 03.12.2019 23:31 Tanya120

On january 1, 2021, the highlands company began construction on a new manufacturing facility for its own use. the building was completed in 2022. the company borrowed $2,150,000 at 9% on january 1 to finance the construction. in addition to the construction loan, highlands had the following debt outstanding throughout 2021: s5,000,000,12% bonds $3.000.000,8% long-term note construction expenditures incurred during 2018 were as follows: january 1 6,000,000$march 31 12,000,000$june 30 8,000,000septernber 30 6,000,000december 31 4,000,000required: calculate the amount of interest capitalized for 2018 using the specific interest method.

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On january 1, 2021, the highlands company began construction on a new manufacturing facility for its...