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Agasse industry began construction of a new facility and

Question - Agasse Industry began construction of a new facility and took out a $1,500,000, 12% construction loan on April, 1, 2016. Agasse made payments to the general contractor of $445,000 on April 1, $945,000 on August 31, and $454,000 on December 31.

Required - Compute the amount of interest that Agasse would capitalize in 2016.

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Accounting Basics: Agasse industry began construction of a new facility and

Reference No:- TGS02909817

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Accounting Basics: Agasse industry began construction of a new facility and

Reference No:- TGS02909817

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