During 2022, Eubanks Co. constructed various assets at a total cost of $20 million. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2022 were $10,200,000. The company had the following debt outstanding on December 31, 2022: $7.7 Million, 7.2%, 5-year note for a construction loan, dated January 1, 2022, with interest payable annually on December 31 $5.1 Million, 3.6%, ten-year bonds issued at par on December 31, 2016, with interest payable annually on December 31 $6.1 million, 5.8%, 3-year note payable, dated January 1, 2020, with interest payable annually on December 31

a. What is avoidable interest for the year? b. What journal entry is made to pay all interest costs during 2022? What is the effect of this entry on total assets, liabilities, equity, revenues, expenses, and net income? Give both direction and amount