On September 1, 2023, HealthCare Solutions Inc. contracted Medical Equipment Ltd. to install new medical equipment for $900,000. HealthCare Solutions Inc. made payments for the installation as follows: October 1, $200,000, December 1, $400,000, March 1, $300,000. The installation was completed, and the equipment was operational on March 31, 2024. HealthCare Solutions Inc. had the following outstanding debt as of December 31, 2024:

i) 10% four-year note to finance the installation, dated September 1, 2023, with interest payable annually on December 31. Principal amount: $600,000. ii) 6% seven-year note payable, dated September 1, 2020, with interest payable annually on December 31. Principal amount: $300,000.

Required: i) Determine the amount of interest to be capitalized in 2024 in relation to the medical equipment installation. (6 marks) ii) Prepare journal entries for HealthCare Solutions Inc. during 2024.