A city constructs a special assessment project (a sidewalk) for which it is secondarily liable. The city issues bonds of $90,000. It authorizes another $10,000 that is transferred out of the general fund. The sidewalk is built for $100,000. The citizens are billed for $90,000. They pay this amount and the debt is paid off. Where is the $100,000 expenditure for construction recorded?
a. It is not recorded by the city.
b. It is recorded in the agency fund.
c. It is recorded in the general fund.
d. It is recorded in the capital projects fund.