1. The city of Adamsville had the following transactions: a. b. C. d. e. Required: Ordered new equipment for the Fire Department at a cost of $55,000. A $1,000,000 bond was issued to build a new building. The equipment is received at an actual cost of $57,000. The invoice is paid. Property tax assessments are mailed to citizens. The total assessment is $600,000, of which city officials expect to collect 97%. The first bond payment of 35,000 is due, of which $5,000 represents interest. $35,000 is transferred from the General Fund to make the payment. The payment is made. Prepare the journal entries for the government-wide financial statements and the fund- based financial statements. Indicate what fund the entry should be recorded in and what type of activity it is.