Business, 07.10.2019 22:10 ayoismeisalex

Boron co. is a calendar-year firm. on january 1, year 1, it borrowed $8 million at 15% to finance construction of a new building. payments on the loan are to commence the month following completion of the project. during year 1, expenditures for the partially completed building were $4 million. these expenditures were incurred evenly throughout the year. boron had invested the unexpended portion of the loan in a money market fund that generated interest revenue of $300,000 during the year. what should be the amount of capitalized interest disclosed on boron’s year 1 financial statements?

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Boron co. is a calendar-year firm. on january 1, year 1, it borrowed $8 million at 15% to finance co...

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