Fulbright County constructed a library in one of the county's high-growth areas. The construction was funded by a number of sources. Below is selected information related to the Library Capital Project Fund. All activity related to the library construction sccurred within the current fiscal year. The county operates on a calendar-year basis. Required Trepare a joumal entry for capital projects fund and governmental activities at the government-wide level, (if no entry is "equired for a transaction/event, select "No Journal Entry Required" in the first account field.) 2. A $720,000 federal grant was recelved to help finance construction of the library. 3. The Library Special Revenue Fund transferred $320,000 for use in construction of the library. 4. A construction contract was awarded in the amount of $6,870,000. 5. The library was completed four months ahead of schedule. Total construction expenditures for the library amounted to $7.726,500 and were setted with ce When the project was completed, the cost of the library was allocated as follows: $235,000 to land, $6,330,000 to building, and the remainder to equipment. 6. The capital projects fund temporary accounts were closed to Fund Balance-Restricted. The resources are restricted because they were obtained from bonded debt issued exclusively for library construction. The capital projects fund was closed by transferring remaining funds to the debt service fund for use library construction debt repayment. Fulbright County constructed a library in one of the county's high-growth areas. The construction was funded by a number of sources. Below is selected information related to the Library Capital Project Fund. All activity related to the library construction sccurred within the current fiscal year. The county operates on a calendar-year basis. Required Trepare a joumal entry for capital projects fund and governmental activities at the government-wide level, (if no entry is "equired for a transaction/event, select "No Journal Entry Required" in the first account field.) 2. A $720,000 federal grant was recelved to help finance construction of the library. 3. The Library Special Revenue Fund transferred $320,000 for use in construction of the library. 4. A construction contract was awarded in the amount of $6,870,000. 5. The library was completed four months ahead of schedule. Total construction expenditures for the library amounted to $7.726,500 and were setted with ce When the project was completed, the cost of the library was allocated as follows: $235,000 to land, $6,330,000 to building, and the remainder to equipment. 6. The capital projects fund temporary accounts were closed to Fund Balance-Restricted. The resources are restricted because they were obtained from bonded debt issued exclusively for library construction. The capital projects fund was closed by transferring remaining funds to the debt service fund for use library construction debt repayment