On April $1,2024,$ the City of Southern Ponds issued $$5,000,000$ in $4\%$ general obligation, tax supported bonds at $101$ for the purpose of constructing a new police station. The premium was transferred to a debt service fund. A total of $$4,990,000$ was used to construct the police station, which was completed before December $31,2024,$ the end of the fiscal year. The remaining funds were transferred to the debt service fund. The bonds were dated April $1,2024,$ and paid interest on October $1$ and April $1.$ The first of $20$ equal annual principal payments of $$250,000$ is due April $1,2025.$

How would the $$4,990,000$ be accounted for?

Multiple Choice

A$.$ As an expenditure in the capital projects fund and as an expense in the government$-$wide Statement of Activities.

B$.$ As a capital asset in the government$-$wide Statement of Net Position.

C$.$ As an expenditure in the capital projects fund.

D$.$ Both $($b$)$ and $($c$).$