A company constructs a building for its own use. Construction began on January 1 and ended on December 30. The expenditures for construction were as follows: Please show all work January 1, 2019 $800,000 April 1, 2019 300,000 July 1, 2019 400,000 November 1, 2019 600,000 The company arranged a construction loan on January 1 with the following terms: Face amount $700,000 Interest rate 9.00% The company's other borrowings, outstanding for the whole year, were as follows: $500,000 12.00% 300,000 8.00% Assume the company uses the specific interest method to capitalize construction interest. Record the journal entries for the construction and interest costs incurred during the year. Use formulas with cell references only. Formulas should work if different numbers are used. Debit Credit Date 12/31 Account Building Cash Construction costs for the year 12/31 Building Cash Capitalized interest for the year 12/31 Interest Expense Cash Other interest for the year