Question: Need help on this problem. I want to know the amounts for the aje On April 1 1 , 2 0 2 2 , Wuycik

Need help on this problem. I want to know the amounts for the aje
On April 11,2022,Wuycik hired a contractor to construct a new office building. The construction work commenced on June 1,2022,and it is expected to continue through November 30,2023,the estimated completion date. Wuycik made progress payments to the contractor in 2022as follows:
Date Amount
June 1$105,000
August 184,000
October 1367,000
November 1138,000
$694,000
As stated in A3above, Wuycik took a 1-year, 8%,$124,000construction loan to help fund the work on this project. The company also has a 5-year, 5%,$635,320loan that is not related to the construction project. Give the adjusting entry needed at December 31,2022to record the capitalization of interest for this project.

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