The average accumulated expenditures

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On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows: January 1, 2016 $311,000 September 1, 2016 $453,000 December 31, 2016 $453,000 March 31, 2017 $453,000 September 30, 2017 $311,000 Dreamworld had $5,100,000 in 10% bonds outstanding through both years. The average accumulated expenditures for 2017 by the end of the construction period was:

Reference no: EM131020553

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