Current Attempt in Progress. On March 1, 2025, Bonita Industries purchased land for an office site by paying $2720000 cash. Bonita began construction on the office building on March 1. The following expenditures were incurred for construction: Date March 1, 2025 April 1, 2025 May 1, 2025 June 1, 2025 Expenditures $1820000 2500000 4530000 4790000 The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3670000 was borrowed on March 1, 2025 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2025 was a $1530000, 12%, 6-year note payable dated January 1, 2025.

On March 1, 2025, Bonita Industries purchased land for an office site by paying $2720000 cash. Bonita began corstruction on the office building on March 1. The following expenditures were incurred for construction: The office was completed and ready for occupancy on July 1. To helppay for construction and purchase of land $3670000 was borrowed on March 1,2025 on a 996,3-year note payable. Other than the construction note, the only debt outstanding during 2025 wasa51530000, 1216 , 6-year note payabie dated January 1,2025. On March 1, 2025, Bonita Industries purchased land for an office site by paying $2720000 cash. Bonita began corstruction on the office building on March 1. The following expenditures were incurred for construction: The office was completed and ready for occupancy on July 1. To helppay for construction and purchase of land $3670000 was borrowed on March 1,2025 on a 996,3-year note payable. Other than the construction note, the only debt outstanding during 2025 wasa51530000, 1216 , 6-year note payabie dated January 1,2025