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What would be the amount of borrowing cost eligible

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Question - Jillian Company borrowed a 3-year, 10% loan of P20 million partly for the construction of its building and partly for administrative purposes on January 01, Year 1. The construction was started on January 'I, Year 1 and was completed on December 31, Year 1. Construction expenditures incurred evenly throughout the year amounted to P12 million. Cool Logo earned P200,000 interest from investing a portion of the loan proceeds. What would be the amount of borrowing cost eligible for capitalization?

Reference no: EM133139311

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