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Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $4,000,000 on March 1, $3,300,000 on June 1, and $5,000,000 on December 31. Arlington Company borrowed $2,000,000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $4,000,000 note payable and an 11%, 4-year, $7,500,000 note payable. What is the avoidable interest for Arlington Company?
Which of the following should not be classified as a current asset? a) A one year installment receivable from the sale of a truck b) An investment expected to be needed for operations in the next year c) A one-year prepaid insurance policy d) A fund ..
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