Word - inter 2 fest 19 - A --A Question three: (25 marks) On June, 2019, Sun Construction began construction of a new buildmg for its use The building was finished and ready for use on May31, 2021 Expenditures for the construction were as follows: Cost of land paid in June, 2019 $1,800,000 September 1/2019 600,000 December 31, 2019 800,000 march 31, 2020 395,000 May 31,2020 375.000 November 1.2020 562,500 January 31, 2021 37.806 April 30,2021 148403 Sun Construction borrowed $700,000 on a construction loan at 5% interest on Junel 2019. This loan was outstanding during the construction period. The company also had the following outstanding loan during the period: $7,000,000, 7. % bonds $5,000,000, 4% mortgage Required 1-Compute the amount of capitalize interest, if any, in December 31, 2019, 2020 and 2021 2-Journalize the entries in December 31, 2019, 31/12/2020 31/05/2021 (assuming the company use straight line method for depreciation with 50 years useful life and no salvage value) (hp Word - inter 2 fest 19 - A --A Question three: (25 marks) On June, 2019, Sun Construction began construction of a new buildmg for its use The building was finished and ready for use on May31, 2021 Expenditures for the construction were as follows: Cost of land paid in June, 2019 $1,800,000 September 1/2019 600,000 December 31, 2019 800,000 march 31, 2020 395,000 May 31,2020 375.000 November 1.2020 562,500 January 31, 2021 37.806 April 30,2021 148403 Sun Construction borrowed $700,000 on a construction loan at 5% interest on Junel 2019. This loan was outstanding during the construction period. The company also had the following outstanding loan during the period: $7,000,000, 7. % bonds $5,000,000, 4% mortgage Required 1-Compute the amount of capitalize interest, if any, in December 31, 2019, 2020 and 2021 2-Journalize the entries in December 31, 2019, 31/12/2020 31/05/2021 (assuming the company use straight line method for depreciation with 50 years useful life and no salvage value) (hp