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Clermont Company started construction of a new office building on january 1,2000, and moved into the finished building on July 1, 2002. Of the building's $2,500,000 was incurred by 12/31/2000 in even increments throughout the year. Clermont's weighted average borrowing rate was 12% throughout 2000, and the actual amount of interest incurred by Clermont during 2000 was $135,000. what amount should Clermont report as capitalized interest at 12/31/2000?

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Accounting Basics, Accounting

Category:- Accounting Basics
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