Fxercise 10-8 an Decomber 31, 2 10 Ivanhoe Inc. borrowed S3 360,00 at 13% payable annually to finance the construction o a new buildinq in 2017, the company mzdc the follow ina expenditures related to this building: March 1 $403 zu0; June 1 $672,Duo; Ju V 1 $1,680 0u0 December 1, $1,680,000. The building was completed in February 2019. Additional information is provided as follows. 1. Otherdeb outstanding 10-year, 14% bond, December 31, 2010, interest payable annually 6-year, 11% note, dated December 31, 2014, interest payable annually 4,460,000 $1,792,000 2. March 1, 2017, xpenditure Induded land costs of $168,000 3. Interest revenue eaned in 2017 554,880 Deternine the amount of interest to be capitalized in 2017 in relation to the construction of the building. The amount of interest VTDEO STMTLAR EXERCISE Prepare the ouma entry to record the capitalization of interest and the recognition ot interest expense r any, at December 31 2017 Credit ccount titles a e outomatical y i dented when amount is entered o ot indent manual y It o entry is require select No Entry., for the account titles nd enter 0 for the amounts.) Account Titles and Explanation Debrt Credit Dacember 31, 2017 LTNK TO TEXT Question Attempts: 0 ot 2 used SAVEOR LATER