Agasse industries began construction of a new facility and, Financial Accounting

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Agasse industries began construction of a new facility and

Agasse Industries began construction of a new facility and took out a $1,500,000, 8% construction loan on April 1, 2013. Agasse made payments to the general contractor of $400,000 on April 1, $900,000 on August 31, and $500,000 on December 31.

Required: Compute the amount of interest that Agasse would capitalize in 2013.

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Financial Accounting: Agasse industries began construction of a new facility and

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Financial Accounting: Agasse industries began construction of a new facility and

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