On September 3, 2021, the Robers Company exchanged equipment with Original cost Accumulated depreciation Fair value Robers' Asset $ 165,000 91,000 88,500 Phifer's Asset $185,000 99,000 74,500 To equalize the exchange, Phifer paid Robers $14,000 in cash. Required: Record the exchange for both Robers and Phifer. The exchange has com for a transaction/event, select "No journal entry required" in the first ac View transaction list Journal entry worksheet 1 2 Record the exchange of equipment for Robers Company. The exchange commercial substance for both companies. To equalize the exchange, P paid Robers $14,000 in cash. Note: Enter debits before credits. Event General Journal Debit 1 On January 1, 2021, the Mason Manufacturing Company began construction o building was completed on September 30, 2022. Expenditures on the project January 1, 2021 March 1, 2021 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August 31, 2022 $1,740,000 1,380,000 1,580,000 1,380,000 387,000 720,000 1,017,000 On January 1, 2021, the company obtained a $4,300,000 construction loan wit 2021 and 2022. The company's other interest-bearing debt included two long- rates of 8% and 10%, respectively. Both notes were outstanding during all of 20 company's fiscal year-end is December 31. Required: 1. Calculate the amount of interest that Mason should capitalize in 2021 and 20 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2021 and 2 Complete this question by entering your answers in the tabs below. Req 1 and 3 Req 2 Calculate the amount of interest that Mason should capitalize in 2021 and 2022 us expense that will appear in the 2021 and 2022 income statements. (Do not round 2021 2022 Interest capitalized Interest aynence