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The City of L'Anse is preparing its government-wide financial statements from its fund financial statements. The City identifies Capital Assets with a book value of $600,000 (all numbers in $1,000s) at the beginning of the year that are depreciated at the rate of $25,000 per year. Its records also indicate that it spent $300,000 on new Capital Assets during the year. What two reconciliation entries must the City include in its government-wide financial statements relating to Capital Assets? Reconciliation Spreadsheet Description Debit Credit 0 0 0 0 Record capital assets for government-wide financial statement presentation Depreciation expense 0 0 | 0 0 0 0 Record depreciation for government-wide financial statement presentation