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On December 31, 2024, Kingbird Inc. borrowed $1,080,000 at 13% payable annually to finance the construction of a new building. In 2025, the company made

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On December 31, 2024, Kingbird Inc. borrowed $1,080,000 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, $432,000; July 1, $648,000; September 1 . $1,296,000 : December 1,\$648.000. The building was completed in April 2026. Additional information is provided as follows: On December 31, 2024, Kingbird Inc. borrowed $1,080,000 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, $432,000; July 1, $648,000; September 1 . $1,296,000 : December 1,\$648.000. The building was completed in April 2026. Additional information is provided as follows

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