Early in 2020, ACY Limited engaged a contractor to design and construct a new warehouse. The warehouse was completed and ready for use in early 2021. ACY Limited incurred the following expenditures for the construction. March 1, 2020 April 1, 2020 May 31, 2020 July 1, 2020 December 31, 2020 $ 90,000 72,000 75,000 70,000 200,000 ACY Limited had the following debt outstanding on December 31, 2020. $ 150,000 1. 12%, 3-year note to finance the construction of this warehouse, dated January 1, 2020, with interest payable annually on December 31 2. 12%, 10-year bonds issued at par on December 31, 2015, with interest payable annually on December 31 3. 9%, 3-year note payable, dated January 1, 2019, with interest payable annually on December 31 400,000 200,000 Requirement: A. Advise ACY Limited how to account for the interest incurred related to the warehouse in 2020. Support your answers with detailed calculation. (10 marks) Part B (7 marks) YCA Company purchased computers for administrative use on June 30, 2020 for $31,600 cash. The computers have an estimated useful life of 5 years and a residual value of $4,000. YCA Company adopts the double-declining-balance depreciation method and the cost model to account for the computers. On December 31, 2020, YCA Company exchanged the computers with tablets and paid $8,000 cash. At the time of exchange, the computers had a fair value of $25,000 and the exchange has commercial substance. Requirement: B. Prepare journal entries for YCA Company on December 31, 2020 (7 marks)