1. On December 31, 2016. Windsor Inc borrowed $3.960.000 at 13x payable annually to finance the construction of a new holding in 2020, the company made the following expenditures related to this building March 1.5475.200. June 1,5792.000 July $1,980,000: December 1.51.900.000. The building was completed in February 2021. Additional information is provided as follows Other debt outstanding 10 year, 14% bond, December 31, 2013, interest payable annually $5.280.000 6-year 11% note, dated December 31, 2017, interest payable annually 2. March 1, 2020, expenditure included and costs of 198,000 Interest revenue earned in 2020 $64,680 $2.112.000 3. VAM Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building The amount of interest $ Prepare the journal entry to record the capitalization of interest and the recognition of interest expense. If any at December 31 2020. (Credit account titles are dutomatically indented when amount is entered. Do not indent manually. If ro entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit December 31, 2020