Computing and Recording Interest Capitalization Weld Corporation is constructing a plant for its own use. Weld capitalizes interest on an annual basis. The following expenditures are made during the current year: January 1, \$48,000:july 1, $464,000, September , \$1,280,000: and December 31,$3,376,000. The following debts. were outstanding throushnit wis Note: Round all of your answers to the nearest whole number or whole percentage point. a. Compute the amount of interest to be capitalized during the year. b. Calculate the amount of interest expense for the years $ c. Prepare the summary journal entry for the year to record the construction exneneldires and interest? complete on December 31, Assume all navmant