Computing and Recording interest Capitalization The foilowing information is from Bewin inc. for a long term construction project that is expected to be completed in jaruary of next year, The construction project is for a own use. The capital expenditure on january 1 of the current year is for the purchase of land for the bulding site. No new construction loans were opened for the project di oututanding for the fullyear Compute interest to Captalive and cxpense b. Prepare the summary entry to record the construction expenditures and interest for the year. Assume all payments are in cash outitandis stor the fil yean C. Astume that the projec is completed on lanuay rot the nertyeat (1) Ficesar the entry to tander tosts trom constriction in procen to propery and equipment