Question: a. A contract is signed with a construction company to build a new central office building for the government at a cost of $8 million.

a. A contract is signed with a construction company to build a new central office building for the government at a cost of $8 million. A budget for this project has previously been recorded.

b. The new building is completed. An invoice for $8 million is received and paid

Prepare the entries for the fund financial statements

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