On December $31,2024,$ Lakspur inc. borrowed $$1,290,000$ at $13\%$ payable annually to finance the construction of a new building. In $2025,$ the company made the following expenditures related to this building: june $1,$ $$516,000$; july $1,$ $$774,000$; september $1,$ $$1,548,000$; December $1,$ $$774,000.$ The building was completed in April $2026.$ Additional information is provided as follows:

$1.$ Other debt outstanding

$10-$year, $11\%$ bond, dated december $31,2018,$ interest payable annually $$12,900,000$

$15-$year, $13\%$ note, dated december $31,2012,$ interest payable annually $$3,225,000$

$2.$ Interest revenue earned in $2025$ $$7,740$

Prepare the journal entry to record the capitlizafion of interest and the recognition of interest expense, if any, at december $31,2025.$