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McPherson Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5,408,000 on January 1,

McPherson Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5,408,000 on January 1, 2012. McPherson expected to complete the building by December 31, 2012. McPherson has the following debt obligations outstanding during the construction period. Construction loan

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