Current Attempt in Progress On December 31, 2019, Whispering 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, $525,600; June 1, $876,000; July 1, $2,190,000: December 1, $2,190,000. The building was completed in February 2021. Additional information is provided as follows. $5,840,000 1. Other debt outstanding 10-year, 13% bond December 31, 2013, interest payable annually 6-year, 10% note dated December 31, 2017 interest payable annually March 1, 2020, expenditure included land costs of $219.000 $2,336,000 N 3. Interest revenue earned in 2020 $71,540 Your answer is partially correct. Prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at December 31, 2020. (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 for the amounts.) Date Credit Debit Account Titles and Explanation Buildings 267180 per 31, 2020 Interest Expense 1177620 144800 Cash