Fill in the following blanks: If a city acquires a new office building under a capital lease
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Question:
Fill in the following blanks:
If a city acquires a new office building under a capital lease agreement,
1. The cost of the building should be recorded in the ___________
2. The "cost" of the building is computed as ______________
3. A governmental fund should record the cost of the building as an expenditure, offset by a credit to __________________
4. The liability for the capital lease should be recorded in the _______________
5. The liability should be computed as _________________
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