Hawkins Corporation began construction on a motel on March 31,2018. The project was completed...

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Accounting

Hawkins Corporation began construction on a motel on March 31,2018. The project was completed on April 30, 2019. No new loanswere required to fund construction. Hawkins does have the followingtwo interest-bearing liabilities that were outstanding throughoutthe construction periods:
$4,000,000 6% note
$16,000,000 10% bonds
Construction expenditures incurred were as follows:
March 31, 2018 $4,000,000
June 30, 2018 6,000,000
November 30, 2018 1,800,000
February 28, 2019 3,000,000
The company's fiscal year-end is December 31.
Calculate the amount of interest capitalized for 2018and 2019.

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In: AccountingHawkins Corporation began construction on a motel on March 31,2018. The project was completed on...Hawkins Corporation began construction on a motel on March 31,2018. The project was completed on April 30, 2019. No new loanswere required to fund construction. Hawkins does have the followingtwo interest-bearing liabilities that were outstanding throughoutthe construction periods:$4,000,000 6% note$16,000,000 10% bondsConstruction expenditures incurred were as follows:March 31, 2018 $4,000,000June 30, 2018 6,000,000November 30, 2018 1,800,000February 28, 2019 3,000,000The company's fiscal year-end is December 31.Calculate the amount of interest capitalized for 2018and 2019.