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Exercise 10-9 (Part Level Submission) On July 31, 2017, Pina Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2017. To help finance construction, on July 31 Pina issued a $278,400, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $188,400 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable securities (trading securities) at 10% until November 1. On November 1, Pina made a final $90,000 payment to Minsk. Other than the note to Netherlands, Pina’s only outstanding liability at December 31, 2017, is a $32,000, 8%, 6-year note payable, dated January 1, 2014, on which interest is payable each December 31.

Exercise 10-9 (Part Level Submission) On July 31, 2017, Pina Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2017. To help finance construction, on July 31 Pina issued a $278,400, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each july 31 $188,400 of the proceeds ofthe note was paid to Misk on 〕uly 31. The remainder of the proceeds was temporarily invested in short-term marketable securities trading securities at 10% until November i On November i Pina made afinal $90 00 payment to Minsk. Other than the note to Netherlands Pinas only outstanding liability at December 31, 2017, is a $32.000 8%, 6 year note payable, dated January 1, 2014, on which interest is payable each December 31 ▼ (a) Your answer is correct. Calculate the interest revenue, weighted average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2017 Interest revenue Weighted-average accumulated expenditures 2250 47100 Avoidable interest 5652 Interest capitalized 5652Prepare the journal entries needed on the books of Pina Company at each of the following dates. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry for the account titles and enter O for the amounts.) (1) July 31, 2017. (2) November 1, 2017. (3) December 31, 2017 Date Account Titles and Explanation Debit To record the note.) (To record the payment to Minsk.) (To record the proceeds from the investment.) To record the payment to Minsk.)To record the proceeds from the investment.) To record the payment to Minsk.) 12/31

Please make the entries clear and bold. Thank you so much for your help!

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