Business
Business, 23.01.2020 00:31, sruthivada

Blue furniture company started construction of a combination office and warehouse building for its own use at an estimated cost of $11,000,000 on january 1, 2020. blue expected to complete the building by december 31, 2020. blue has the following debt obligations outstanding during the construction period. construction loan-12% interest, payable semiannually, issued december 31, 2019 $4,400,000 short-term loan-10% interest, payable monthly, and principal payable at maturity on may 30, 2021 3,080,000 long-term loan-11% interest, payable on january 1 of each year. principal payable on january 1, 2024 2,200,000

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