During fiscal year 19x8, the voters of the City of Ashland approved the construction and equipping of a recreation center to be financed by tax-supported bonds in the amount of $5,000,000. During 19 xx8, the following events and transactions occurred: Preliminary planning and engineering expenses were incurred in the amount of $125,000. No money was immediately available for paying these costs (credit Vouchers Payable). Supplies to be used by the city's own working fores in connection with the project were ordered in the amount of $50,000. A contract was let under competitive bids for a major segment of the construction project in the amount of $4,000,000. All the supplies referred to in item 2 were received ut a net sost