-35 Current Attentotin Progress On December 31, 2016. Standing borrowed $3.000.000 a 17 able to france the construction of new buitine In 2020. the commade the following expenditures related to this on March 1.5432.000 June 1.5720.000 $1.800.000, December 1.51.800.000 The building was completed in February 2001. Additional Information is provided as follows 1 Other it cutstanding Sortar, 14% bond, December 31, 2012 interest payablety Sat 11% cote, dated December 31, 2017. Interestable annually March 12020, expenditure included and costs of $180,000 Imerest revenue and in 2020 54 800,000 $1.920.000 2. 3 $58.000 Determine the amount of west to be din 2020 in the construction of the 5 Atome of used for . 0 9 w R S F H V B N M 1 On December 31, 2019, Sunland Inc. borrowed $3,600,000 at 13% payable annually to finance the construction of a new building In 2020, the company made the following expenditures related to this building: March 1, $432,000, June 1. $720.000, July 1 $1,800,000; December 1, $1,800,000. The building was completed in February 2021. Additional information is provided as follows. Other debt outstanding 10-year, 14% bond, December 31, 2013, interest payable annually $4,800,000 6-year, 11% note, dated December 31, 2017 interest payable annually $1.920,000 March 1, 2020, expenditure included land costs of $180,000 Interest revenue earned in 2020 $58,800 2 3. (a) Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building The amount of interest $ Attempts: 0 of 3 used Submit Answer Save for Later