Jasmine Co. has a major construction project throughout all of 2020. Jasmine has the following debt: Construction Loan: $10,000,000 @ 5% General Purpose Debt A: $20,000,000 @ 6% General Purpose Debt B: $12,000,000 @ 7% Jasmine has the following expenditures on the construction: 3/1/2020: $5,000,000 7/1/2020: $9,000,000 10/1/2020: $8,000,000 Required: Compute interest to be capitalized. Then prepare the journal entry recorded for the construction in progress on December 31, 2020