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balakrishnamanoharan
balakrishnamanoharan
25.02.2020 • 
Business

Turnbull Corporation is constructing an office building that it will use in its business. Construction of the building started in the current accounting period Turnbull paid its builder $250,000 toward construction of the building. During the period Turnbull had outstanding debt of $200,000 with an interest rate of 6% and pays interest at the end of the period. What amount of interest should Turnbull include in the cost of the building from the current period

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