Question: The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2023 were $5,600,000. The company had the following debt outstanding at December

 The weighted average accumulated expenditures on assets qualifying for capitalization of

The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2023 were $5,600,000. The company had the following debt outstanding at December 31 , x? a. 10%,5-year note to finance construction of various assets, dated lanuary 1,2023 , with interest payable annually on January 1 $3,600,000 b. 12%, ten year bonds issued at par on December 31, 2018, with interest 4,000,000 c. 9%,3 year note payable, dated January 1, 2022, with interest payable annually on January 1 2,000,000 Instructions: Compute the following amounts: [1] Actual interest during 2023. [2] Avoidable interest on construction. [3] Total interest to be capitalized during 2023

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