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Song Company started construction on a building on January 1 of this year and completed construction on December 31 of the same year.Song had only two interest notes outstanding during the year,and both of these notes were outstanding for all 12 months of the year.The following information is available: What amount of interest should Song capitalize for the current year?
Certain Income
A guaranteed or fixed amount of earnings that an individual or entity can expect to receive over a specific time period.
Uncertain Income
Income that is not guaranteed or fixed, often subject to fluctuations due to various factors such as employment status, market conditions, or performance.
Marginal Utility
The additional satisfaction or utility that a consumer gains from consuming one more unit of a good or service.
Income
The money received, typically on a regular basis, for work or through investments.
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