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Gradebook ORION Downloadable eTextbook ent CALCULATOR...

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Accounting

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Gradebook ORION Downloadable eTextbook ent CALCULATOR INTER VERSION BACK Exercise 10-7 Coronado Furniture Company started construction of a combintion office and warehouse building for its own use at an estimated cost of $5,035,800 on January 1, 2017. Coronado expected to complete the building by December 31, 2017 . Coronado has the following debt obligat tions outstanding during the construction period. Construction loan-12% interest, payable semiannually, issued December 31, 2016 Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30, 2018 Long-term loan-11% interest, payable on January 1 of each year. Principal payable on Janu 1, 2021 $1,991,900 1,807,900 i,004,700

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