Assume a company borrowed $200,000 at 12% interest from State Bank on Jan. 1, 2020, for specific purposes of constructing special-purpose equipment to be used in its operations. Construction on the equipment began on Jan. 1, 2020, and the following expenditures were made prior to the project's completion on Dec. 31, 2020: Actual expenditures during 2020: 1/1 $100,000 4/1 $150,000 11/1 $300,000 12/31 $100,000 Other general debt existing on Jan. 1, 2020: $500,000, 14%, 10-year bonds payable $300,000, 10%, 5-year note payable Record a journal entry to capitalize interest. The journal entry to enter the cash payment is not necessary