On March 1,Dubai Corp.began construction of a small building.The following expenditures were incurred for construction:Mar...
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On March 1,Dubai Corp.began construction of a small building.The following expenditures were incurred for construction:Mar $75 000,Apr.1 $84000,May 1 $180000,June 1 $300 000,Jul1 $100000.The building was completed and occupied on July 1.To help pay for construction $60000 was borrowed on March 1 on a 10%,three year note payable.The only other debt outstanding during the year was a $500000,8%,note issued two years ago.(a) Calculate the weighted average accumulated expenditurs.(b) calculate avoidable interest
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