6 On December 31, 2020, Aouabdia Inc. borrowed $3,000,000 at 12 % payable annually to finance the construction of a new building. During 2021, the company made the following expenditures related to this building: January 15th June 15th; July 1st, November 30th; $1,252,174 $3,230,769 $2,100,000 and $1,800,000 The building was completed in February 2023. Additional information is provided as follows. + 1. Other debt outstanding: $4,000,000, ten-year, 11% bond, December 31, 2028, interest payable annually. $1,600,000, six-year, 8% note, dated December 31, 2023, interest payable annually. Instructions: a. Determine the amount of interest to be capitalized in 2021 in relation to the construction of the building. O 32 33 Instructions: a. Determine the amount of interest to be capitalized in 2021 in relation to the construction of the building. b. Prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at December 31, 2021.