Business, 05.05.2020 04:20 stupidsmoke4272

During 2020, Crane Company constructed assets costing $3900000. The weighted-average accumulated expenditures on these assets during 2020 was $2300000. To help pay for construction, $1710000 was borrowed at 9% on January 1, 2020, and funds not needed for construction were temporarily invested in short-term securities, yielding $30000 in interest revenue. Other than the construction funds borrowed, the only other debt outstanding during the year was a $1900000, 10-year, 8% note payable dated January 1, 2014. What is the amount of interest that should be capitalized by Crane during 2020

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During 2020, Crane Company constructed assets costing $3900000. The weighted-average accumulated exp...

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