The Beechnut Corporation has an Electric Mixer Division and an Electric Lamp Division. Of a...
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Accounting
The Beechnut Corporation has an Electric Mixer Division and an Electric Lamp Division. Of a $10,000,000 bond issuance, the Electric Mixer Division used $7,000,000 and the Electric Lamp Division used $3,000,000 for expansion.
Interest costs on the bond totaled $750,000 for the year. What amount of interest costs should be allocated to the Electric Mixer Division?
the answer is b 525,000 Please show the work, explain this.
$225,000
$525,000
$2,100,000
$7,000,000
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