Analyze the effects of the following transactions on the accounting equations of the district's numerous fund and nonfunded accounts. (Include any required year-end interest accruals in your answers.)

Indicate how each transaction should be reported in the operating statement for each affected fund. Identify both the fund and the operating statement

• Contractors billed the school district $81,218,000 for work performed on the district's capital initiatives. By year's end, all but $12,400,000 had been paid.