Question 11 Int Cap] Which of the following assets do not qualify for interest capitalization? A.A new building that is under construction and intended for use by the company B.A new building that was purchased ready for use by the company. C. A new building that a company is building and intends to sell for a profit. D. All of the above. Question 12 The accountant for the Stevens Co. needs to make a journal entry to capitalize interest costs during construction of an expensive piece of equipment. Avoidable interest costs were calculated as $60,000 and actual interest costs were calculated as $180,000. Which of the following journal entries is correct: A Interest expense 180,000 Cash or interest payable 180,000 Interest expense 60,000 Cash or interest payable 60,000 120,000 nterest expense Equipment 60,000 Cash or interest payable 180,000 Interest expense Equipment 60,000 120,000 Cash or interest payable 180,000