On March 1, 2023, Green Fields Resort contracted Garden Landscapes Ltd. to redesign their outdoor spaces for $300,000. Green Fields Resort made payments for the redesign as follows: April 1, $100,000, June 1, $100,000, August 1, $100,000. The redesign was completed, and the outdoor spaces were ready for use on August 31, 2023. Green Fields Resort had the following outstanding debt as of December 31, 2023:

i) 8% two-year note to finance the redesign, dated March 1, 2023, with interest payable annually on December 31. Principal amount: $200,000. ii) 6% five-year note payable, dated March 1, 2020, with interest payable annually on December 31. Principal amount: $100,000.

Required: i) Determine the amount of interest to be capitalized in 2023 in relation to the outdoor space redesign. (6 marks) ii) Prepare journal entries for Green Fields Resort during 2023.