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Interest on short-term notes used to finance construction

The City of Green Hills constructed a new storage facility using the city's own public works employees. Construction costs were incurred in the amount of $850,000, plus $30,000 in interest on short-term notes used to finance construction. What amount should be capitalized as a general capital asset?

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Accounting Basics: Interest on short-term notes used to finance construction

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Accounting Basics: Interest on short-term notes used to finance construction

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