During the current year, a capital projects fund completed a new public safety building that

was started in the prior year. The total cost of the project was $9,720,000. Financing for the

project came from a $9,000,000 bond issue that was sold in the prior year, and from a

$720,000 federal capital grant received in the current year. Current year expenditures for the

project totaled $1,176,000. The full cost is attributed to the building since it was constructed

on city-owned property.

Please make all necessary journal entries

Problem 5-3, page 205, part 4

Thanks