Question: View Policies Current Attempt in Progress Oriole Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were
View Policies Current Attempt in Progress Oriole Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6450000 on March 1, $5250000 on June 1, and $8950000 on December 31. Oriole Company borrowed $3220000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6390000 note payable and an 11%, 4-year, $12650000 note payable. What amount of interest should be charged to expense? $7864314 $1474314 O $1087914 $2030500
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