Capitalization of Interest: Please use the following information for Problems $18-20$:

On December $31,2011,$ Raddison Inc. borrowed $$4,750,000$ at $12\%$ payable annually to finance the construction of a new building. In $2019,$ the company made the following expenditures related to this building: March $1,$ $$1,100,000$; June $1,$ $$1,800,000$; July $1,$ $$4,500,000$; December $1,$ $$3,600,000.$ Additional information is provided as follows.

$1.$ Other debt outstanding

$10-$year, $11\%$ bond, December $31,2005,$ interest payable annually $$8,000,000$

$6-$year, $10\%$ note, dated December $31,2009,$ interest payable annually $$3,200,000$

Find the weighted$-$average accumulated expenditures on the construction project, use grid below to assist with calculations:

Find Actual Interest:

Find Avoidable Interest

Prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at December $31,2019$