DE10-4 Suppose Florida Power, the utility company, is constructing power-generating equipment for use in its operations. To finance construction. Florida Power borrows $800.000 on notes payable on January 2. 20X3. During 20X3, Florida Power incurs interest cost equal to 9% of its construction loan. All of the company's interest cost should be capitalized to the Equipment account. 1. Make the journal entry to pay Florida Power's interest cost at December 31, 20X3. 2. At December 31, 20X3, what is the balance in the Equipment account? Prepare a T-account for Equipment to answer this question.