Li Corp. purchased a container load of antiques for resale at an invoice cost of $$200,000.$ The goods were paid for when they were shipped in early June. The container arrived in Canada at the end of August, and then at Li$$s location, by rail, at the end of September. The goods were then available for sale. Freight costs of $$21,000$ were paid in October. Li has recorded $$319,200$ of total interest expense from $$3,800,000$ of general borrowing over the year.

Required:

Prepare the adjusting journal entry to capitalize borrowing costs on inventory at year$-$end December $31.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations.$)$