Return to question 1 Problem 16-34 (Static) (LO 16-1, 16-2, 16-7) 20 points A city transfers cash of $90,000 from its general fund to start construction on a police station. The city issues a bond at its $1.8 million face value. The police station is built for a total cost of $1.89 million. a. Prepare all necessary journal entries for these transactions for both fund and government-wide financial statements. Assume that the city does not record the commitment for this construction. (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in dollar, not in millons.) & Answer is not complete. Debit Credit Transaction Fund/Activity General Journal 1. Transfer from general fund and issue of bonds for construction of police station. Government Activities Record sale of bonds Cash Bonds payable 1,800,000 1,800,000 Record completion of construction. Buildings Cash 1,890,000 1,890,000 2. Transfer from general fund and issue of bonds for construction police station 2 General Fund Record authorization of transfer for construction. Cash x 1.800.000 X Return to question 1 Cash 1.890,000 20 points 2. Transfer from general fund and issue of bonds for construction of police station. 2 General Fund Record authorization of transfer for construction Cash Other financing sources - bond proceeds 1.800.000 x 180,000 3. Transfer from general fund and issue of bonds for construction of police station 3 Capital Projects Fund Record transfer in of cash. Record sale of bonds. Record completion of construction