Obligations outstanding during the construction period, Accounting Basics

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Obligations outstanding during the construction period

Question:

Harrisburg Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5,011,800 on January 1, 2014. Harrisburg expected to complete the building by December 31, 2014. Harrisburg has the following debt obligations outstanding during the construction period.

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Accounting Basics: Obligations outstanding during the construction period

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Accounting Basics: Obligations outstanding during the construction period

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