18. Our city had the following transactions involving resource outflows from its general fund for the year ended June 30, 20X8: During March 20X8, the general fund transferred $150,000 to a capital projects fund to help pay for the construction of a new police station. During August 20X7, the general fund ordered computer equipment at $200,000 estimated cost. The equipment arrived in September 20X7, and a S202,000 invoice was paid. During the year ended June 30, 20X8, the general fund received bills from the city's water department totaling $12,000. Of this amount, the general fund had paid all but $500 by June 30, 20x8 and plans to pay the balance next month. At June 30, 20X8, outstanding encumbrances for goods ordered in the general fund amounted to $25.000. Outstanding encumbrances do not lapse at the end of the fiscal year. On March 15. 20X8, the general fund repaid a local bank $265,000 for a loan of which $250.000 represented the principal borrowed. The general fund borrowed the money in July 20X7 and used collections of the property tax levy to repay the loan During May 20X8, the general fund decided to lease several copying machines instead of purchasing them. The lease arrangement was properly accounted for as an operating I lease payments of $10,000 to the owner. ease. By June 30. 20X8, the general fund had made Expenditures for 20X8 fiscal year are: a. $229,000 b. $237,000 c. $239,000 d. $389,000 e. None of the above