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How much should be shown as capitalized interest

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Reference no: EM133053177

Question - The following situation involve the capitalization of interest. Bramble, Inc. has a fiscal year ending June 30. On July 1, 2017, Bramble borrowed $5,500,000 at 10% to finance construction of its own building. Repayments of the loan are to commence the month following completion of the building. During the year ended June 30, 2018, expenditures for the partially completed structure totaled $1,650,000. Interest earned on the unexpended portion of the loan amounted to $133,100 for the year. How much should be shown as capitalized interest on Bramble's financial statements at June 30, 2018?

Reference no: EM133053177

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