Business, 10.03.2020 04:00 1230bering

On January 2, 2017, Swify Corporation began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2018. Expenditures for the construction were as follows:January 2, 2017 $ 600,000September 1, 2017 1,800,000December 31, 2017 1,800,000March 31, 2018 1,800,000September 30, 2018 1,200,000
Swifty Corporation borrowed $3240000 on a construction loan at 10% interest on January 2, 2017. This loan was outstanding during the construction period. The company also had $12360000 in 7% bonds outstanding in 2017 and 2018. The interest capitalized for 2017 was .

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On January 2, 2017, Swify Corporation began construction of a new citrus processing plant. The autom...

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