HENTI Exercise 10-30 On December 31, 2020, Cheyenne Inc, a public company, borrowed $3 million at 11% payable annually to finance the construction of a new building. In 2021, the company made the following expenditures related to this building structure (unless otherwise noted): March 1, $519,000: June 1, $630,000: July 1, $1.5 million of which 3412,000 was for the roof) December 1, $1.5 million (of which $728,000 was for the building HVAC). Additional information follows: 1. Other debt outstanding: $5 million, 10 year, 12% bond, dated December 31, 2013, with interest payable annually $1.5-million, six-year, 10% note, dated December 31, 2017, with interest payable annually 2. The March 1, 2021 expenditure included land costs of $147,000. 3. Interest revenue earned in 2021 on the unused idle construction loan amounted to $52,400. Determine the interest amount that could be capitalized in 2021 in relation to the building construction, (Do not round intermediate calculations of capital rate and final answer to o decimal places, 0.5,275.) Interest amount to be capitalized 1080000 LINK TO TEXT LINK TO TEXT Prepare the Journal entry to record the capitalization of borrowing costs and the recognition of interest expense av at December 31, 2020. (Cesta automatically indented when the amount is entered. Do not indent manually. If no entry is required select No Entry for the account and were for the amounts. Do not round Intermediate calculations. Round capitalization rate to 2 decimal places. 52.75 and final answers to decinalis Account Titles and Explanation Debit Credit 11 PM o * arch ey PLUS ke selama beberamente E4 Backup: Kiese, Intermediate Accounting. 120 NT RESOURCES Assignment Determine the interest amount that could be capitalized in 2021 in relation to the building construction controdottelewin finanswer to deal places. e. 275.) al Problem Interest amount to be capitalized 1000000 LINK 10 TEXT LINK TO TEXT Problem BIOSE esults by Study Prepare the Journal entry to record the capitation of borrowing costs and the recognition of interestepay, December 31, 2020.com automatically indented when the amount is entered the not in any Inntry hot setely for the center leur amounts. Do not round Intermediate calculations foundation rate to decimal and Finland Account Titles and Explanation Debit Credit TEXT NETO TEM Ouest Attend