Use the Following Information to Answer Questions

question 27

Multiple Choice

Use the following information to answer questions
Arlington Company is constructing a building.Construction began on January 1 and was completed on December 31.Expenditures were $2,400,000 on March 1, $1,980,000 on June 1, and $3,000,000 on December 31.Arlington Company borrowed $1,200,000 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, $2,400,000 note payable and an 11%, 4-year, $4,500,000 note payable.
-What amount of interest should be charged to expense?

• A)$382,792
• B)$735,000
• C)$526,792
• D)$415,192

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Definitions:

Environmental Impact Statement

An Environmental Impact Statement (EIS) is a document prepared to describe the positive and negative effects of proposed projects on the environment.

Germany

Germany is a country in Central Europe, known for its rich history, cultural heritage, and as a major economic and political power.

Public Waste Disposal System

Refers to the infrastructure and services designed to collect, transport, process, and dispose of waste materials generated by the public.

National Ambient Air Quality Standards

Regulations established by the Environmental Protection Agency (EPA) to control air pollution by setting limits on the concentration of pollutants in the air.