Help with part B.

Exercise 10-8 (Part Level Submission) On December 31, 2016, Concord Inc. borrowed $4,380,000 at 12% payable annually to finance the construction of a new building. In 2017, 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 2018. Additional information is provided as follows. i. Other debt outstanding 10-year, 13% bond, December 31, 2010, interest payable annually 6-year, 10% note, dated December 31, 2014, interest payable annually March 1, 2017, expenditure included land cost:s $5,840,000 $2,336,000 2. of $219,000 3. Interest revenue earned in 2017 $71,540 Your answer is correct. Determine the amount of interest to be capitalized in 2017 in relation to the construction of the building The amount of interest Click if you would like to Show Work for this question: Open Show Work LIST OF ACCOUNTS Attemptst 1 of 15 used Prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at December 31, 2017. (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 0 for the amounts.) Account Tirles and Explesatien Credit December 31, 2017 Click if you weuld like to Show Work for this question: Open Show Work