P6. During 2019, the COYOTE Company spent $6,000,000 for various construction projects which are qualified for capitalization of interest. The total expenditures of $6,000,000 were made as follows: $3,000,000 on 1/1/2019, $1,000,000 on 7/1/2019, and $2,000,000 on 10/1/2019. The company had the following debts outstanding as of December 31, 2018: 1.6%, 5-year note to finance construction of various assets, dated January 1, 2018, with interest payable annually on each January 1. $3,000,000 2.8%, 15-year bonds issued at par on December 31, 2016, with interest payable annually on each December 31 $2,000,000 3. 10%, 10-year note payable, dated January 1, 2018, with interest payable annually on each January 1 $4,000,000 Instructions: Prepare the journal entries for the asset qualifying for capitalization of interest, interest expense, and interest payment on December 31, 2019