Question: 6.) Please answer the question precise and concisely. Part B The city spent $10 million constructing a parking facility that benefits a limited group of

6.)

Please answer the question precise and concisely.

Part B The city spent $10 million constructing a parking facility that benefits a limited group of property owners. The improvements were financed with the issue of city bonds. The facility has an estimated useful life of 20 years. Explain how this project would be reported on the both the government wide and fund based financial statements. In addition, identify the governmental funds that would have been used

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