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What amount should be capitalized as interest on december

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Question - Julie Company started construction of a new office building on January 1, 2020, and moved into the finished building on July 1, 2021. Of the building's P25,000,000 total cost, P20,000,000 was incurred in 2020 evenly throughout the year. The incremental borrowing rate was 12% throughout 2020, and the amount of interest incurred by Julie was P1,020,000 in 2020. What amount should be capitalized as interest on December 31, 2010?

Reference no: EM133145221

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