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On January 1, 2018, Dreamworld Co. began construction of a new warehouse. The building was finished...

On January 1, 2018, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2019. Expenditures on the project were as follows:

January 1, 2018 $ 330,000
September 1, 2018 $ 495,000
December 31, 2018 $ 495,000
March 31, 2019 $ 495,000
September 30, 2019 $ 330,000


Dreamworld had $6,500,000 in 12% bonds outstanding through both years.

The average accumulated expenditures for 2019 by the end of the construction period was:

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