On July $6,$ Kingbird Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised

value of the property is:

Kingbird Company gave $12,000$ shares of its $$100$ par value common stock in exchange. The stock had a market price of $$168$ per

share on the date of the purchase of the property.

Kingbird Company expended the following amounts in cash between July $6$ and December $15,$ the date when it first occupied the

building.

On December $20,$ the company paid cash for equipment, $$676,000,$ subject to a $2\%$ cash discount, and freight on equipment of

$$27,300.$

Prepare entries on the books of Kingbird Company for these transactions. $($Do not round intermediate calculations and final answers to $0$

decimal places e$.$g$.58,971.$ Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is

required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$