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4. During the current year, a capital projects fund completed a new public safoty building started in the prior year. The total cost of the
4. During the current year, a capital projects fund completed a new public safoty building started in the prior year. The total cost of the project was $9,720,000; Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Saved Help \begin{tabular}{|l|l|l|} \hline 4d & Govemmental Activities & Rocordinthegovemmentalactivitiesgeneraljoumal,the$750,000cashpaymentmadeforconstructioncostsduringthisyear. \\ \hline & & \\ \hline 4e & & Recordinthegovernmentalactivisesgeneraljoumal,thecompletionofanewpublicsafetybuidingoncity-ownedpropertystartedintheprioryearcosting$9,720,000. \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} 5. The city records a half year of straight-line depreciation on capital assets placed in service during the yoar. The bulding in item 4 above has an estimated 30 year life and no salvage value. \begin{tabular}{|c|l|l|} \hline 5 & General Fund & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} 6. Due to technological developments, the city determined that the service capacily of some of the technology equipment used by general government had been impaired. The calculated impairment loss due to technology obsolescence was $1,156,000
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