On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as t building was completed on September 30, 2025, Expenditures on the project were as follows: January 1, 2024 March 1, 2024 June 30, 2024 October 1, 2024 January 31, 2025 April 30, 2025 August 31, 2025 $1,500,000 1,200,000 1,400,000 1,200,000 360,000 693,000 990,000 On January 1, 2024, the company obtained a $4,000,000 construction loan with a 14% Interest rate. The loan was outstanding 024 and 2025. The company's other interest-bearing debt included two long-term notes of $1,000,000 and $4,000,000 with ates of 10% and 12%, respectively. Both notes were outstanding during all of 2024 and 2025. Interest is paid annually on all company's fiscal year-end is December 31.
On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as t building was completed on September 30, 2025, Expenditures on the project were as follows: January 1, 2024 March 1, 2024 June 30, 2024 October 1, 2024 January 31, 2025 April 30, 2025 August 31, 2025 $1,500,000 1,200,000 1,400,000 1,200,000 360,000 693,000 990,000 On January 1, 2024, the company obtained a $4,000,000 construction loan with a 14% Interest rate. The loan was outstanding 024 and 2025. The company's other interest-bearing debt included two long-term notes of $1,000,000 and $4,000,000 with ates of 10% and 12%, respectively. Both notes were outstanding during all of 2024 and 2025. Interest is paid annually on all company's fiscal year-end is December 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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