During 2019, Brent Industries, Inc. constructed a new manufacturing facility at a cost of $12,000,000. The weighted average accumulated expenditures for 2019 were calculated to be $5,750,000. The company had the following debt outstanding at December 31, 2019:

1. 9 percent, five-year note to finance construction of the manufacturing facility, dated January 1, 2019, $4,000,000.
2. 11 percent, 20-year bonds issued at par on April 30, 2015, $8,400,000.
3. 8 percent, six-year note payable, dated March 1, 2017, $1,800,000.

Required:

1. Determine the amount of interest that should be capitalized in 2019 assuming that the facility is completed at the end of 2019.
2. Show the most likely journal entry to record the capitalized interest assuming that Brent recorded all interest as expense when paid or accrued.