Business, 24.12.2019 18:31 gabegabemm1

Tamarisk furniture company started construction of a combination office and warehouse building for its own use at an estimated cost of $3,000,000 on january 1, 2020. tamarisk expected to complete the building by december 31, 2020. tamarisk has the following debt obligations outstanding during the construction period. construction loan-12% interest, payable semi annually, issued december 31, 2019 $1,200,000 short-term loan-10% interest, payable monthly, and principal payable at maturity on may 30, 2021 840,000 long-term loan-11% interest, payable on january 1 of each year. principal payable on january 1, 2024 600,000

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