Chesterfield County had the following transactions a. A budget is passed for all ongoing activities. Revenue is anticipated to be $1,043,750 with approved spending of $626.000 and operating transfers out of $341.000 b. A contract is signed with a construction company to build a new central office building for the government at a cost of $9.5 million. A budget for this project has previously been recorded c. Bonds are sold for $9.5 million (face value) to finance construction of the new office building d. The new building is completed. An invoice for $9.5 million is received and paid e. Previously unrestricted cash of $1.75 million is set aside to begin paying the bonds issued in (c) f. A portion of the bonds comes due and $1.75 million is paid Of this total, $75,000 represents interest The interest had not been previously accrued g. Citizens' property tax levies are assessed Total billing for this tax is $820.000. On this date, the assessment is a legally enforceable claim according to the laws of this state. The money to be received is designated for the current period and 90% is assumed to be collectible in this period with receipt of an additional 6% during subsequent periods but in time to be available to pay current period claims. The remainder is expected to be uncollectible. h. Cash of $154,000 is received from a toll road. This money is restricted for highway maintenance i. The county received investments valued at $330,000 as a donation from a grateful citizen. Income from these investments must be used to beautify local parks Prepare the entries first for fund financial statements and then for government-wide financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars not in millions.) FUND FINANCIAL STATEMENTS View transaction list Journal entry worksheet