Government wide statements report on assets and liabilities that are denied recognition on funds statements. Entrepreneurs Consultants, a state agency, was established to provide consulting services to small businesses. It maintains only a single general fund and accounts for its activities on a modified accrual basis. During its first month of operations, the association engaged in, or was affected by the following transactions and events: 1. It received an unassigned grant of $100,000. 2. It purchased five computers at $2,000 each. 3. It paid wages and salaries of $6,000. 4. It borrowed $24,000 from a bank to enable it to purchase an automobile. It gave the bank a long - term note. 5. It purchased the automobile for $24,000. 6. It made its first payment on the note interest of $200. 7. It destroyed one of its computers in an accident. The computer was not insured. Required: a. Prepare journal entries in the general fund to record each of the transactions or other events. b. Prepare a balance sheet and a statement of revenues and expenditures for the general fund. c. Prepare a government - wide statement of net position (balance sheet) and statement of activities. These should be on a full accrual basis. Assume that the capital assets have a useful life of five years and that no depreciation is to be charged on the computer that was destroyed