Question $21(2$ points$)$

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A state constructs an office building. The construction is financed with: $(1)$ a transfer of $$1$ million from the General Fund; $(2)$ a grant of $$2$ million from the federal government; $(3)$ bond proceeds of $$7$ million; and $(4)$ earnings of $$100,000$ from temporary investment of bond proceeds. All transactions occur in one year. What should be reported in the financial statements of the General Fund for the year?

Question $21$ options:

$1)$

Other financing uses of $$1$ million

$2)$

Expenditures of $$1$ million

$3)$

Other financing sources of $$2$ million and other financing uses of $$1$ million

$4)$

Revenues of $$2$ million and other financing sources of $$7$ million