Question 7 Incorrect Not graded P Flag question Computing Interest Capitalization Amounts Whit Company spent a total of $600,000 cash on a construction project during 2018 and 2019. During 2020, Whit spends an additional $1,200,000 evenly during the year on the project and completes construction at the end of 2020. Debt outstanding during 2020 follows. Debt Amount Accounts payable average balance $100,000 10% bond payable 1,400,000 12% construction loan 400,000 a. Compute the amount of interest to be capitalized in 2020. $ b. Calculate the amount of interest to expense in 2020. $ 0 X 0 x Check