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A company constructs a building for its own use and uses the uses the specific...

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Accounting

A company constructs a building for its own use and uses the uses the specific interest method to record the interest. The following information relates to the year 2021. Weighted average expenditures for construction $ 540,000 Construction loan, 5%, starting January 1 360,000 Long-term note, 8%, outstanding all year 290,000 How much interest was debited to the Interest Expense account in 2021 for these loans?

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