Professional Documents
Culture Documents
General Borrowing
2. On January 1, 20x1, BLSU Co. had the following borrowings made for
general purposes and a part of the proceeds was used to finance the
construction of a qualifying asset:
Principal
12% short-term note 40,000,000
14% bank loan (3-year) 72,000,000
16% note payable (5-year) 88,000,000
Jan 1 19,200,000
March 31 8,800,000
July 30 14,000,000
October 1 21,600,000
December 31 1,200,000
Principal
12% short-term note 40,000,000
14% bank loan (3-year) 72,000,000
16% note payable (5-year) 88,000,000
Date Expenditures
January 1, 20x1 4,000,000
May 1, 20x1 1,800,000
December 1, 20x1 2,880,000
20x1 Expenditures
January 1, 20x1 4,000,000
May 1, 20x1 1,800,000
December 1, 20x1 2,880,000
20x2 Expenditures
January 1, 20x2 3,600,000
August 30, 20x2 1,200,000