CALCULATOR PRINTER VERSION BACK NEXT Exercise 10-08 On December 31, 2019, Headland Inc. borrowed $4,380,000 at 12% payable annually to finance the construction of a new building. In 2020, the company made the following expenditures related to this building: March 1, 5525,600; June 1,5876,000; Mly 1, $2,190,000: December 1, 52,190,000. The building was completed in February 2021. Additional Information is provided as follows. 1. Other debt outstanding 10-year, 13% bond, December 31, 2013, interest payable annually $5,840,000 6-year, 10% nate, dated December 31, 2017, Interest payable annually $2,336,000 2. March 1, 2020, expenditure Induded and costs of $219,000 3. Interest revenue earned in 2020 $71,540 Your answer is correct Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building The amount of interest 267.150 SHOW LIST OF ACCOUNTS LINK TO TEXT TO VIVO your answer is partly correct. Try again Prepare the your entry to record the cation of interest and the recognition of rest expenser December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. It ne entry is required selectentry for the accountities and enter for the amounts) Date Account Titles and Explanation Debit Credit December 11, 2020 Buildings 267.180 1,177,620 1,444.800