Correct! Correct Answer Correct! Correct Answer Cost for fencing and sidewalks What is the cost of the land? 268,491 268,491 Question 7 On March 1, Imhoff Co. began construction of a small building. Payments of $286,019 were made monthly for several months. The payments begin on the first day of March; the last payment was May 1. The building was completed and ready for occupancy on the first day of June. In determining the amount of interest cost to be capitalized, the weighted-avrage accumulated expenditures are 143,010 i 143,010 margin of error +/- 5 Question 8 A company does a major upgrade ($10,000) to a building that is expected to extend the useful life of the building. Data for building before the upgrade: Cost $100,000 Accumulated Depreciation $20,000 What is the journal entry to record the upgrade? $4,655 A # 2/2 pts C 1/1 pts 54F Mostly cloudy