Novak company began construction of a new building during 2025. The building is expected to be completed

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Novak company began construction of a new building during 2025. The building is expected to be completed on December 31, 2025. During 2025 payments to the contractor are $594,000 on January 4 $288,000 on May 1 and $408,000 on October 1 Novak has secured a construction loan of $476,000 at 5% interest on January 4, 2025. The company also has $11,850,000 in 10% bonds outstanding in 2026 and 2025 what is the interest amount to capitalize ?

Posted Date: May 18, 2024 10:06 AM

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Novak company began construction of a new building during 2025. The building is expected to be completed

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