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I need help creating these journal entries for governmental accounting (20 Points): The City of Greystone maintains its books so as to prepare fund accounting

I need help creating these journal entries for governmental accounting

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(20 Points): The City of Greystone maintains its books so as to prepare fund accounting statements and prepares worksheet adjustments in order to prepare government-wide statements. You are to prepare, in journal entry form, worksheet adjustments for each of the following situations: 1. Capital assets purchased in previous years through governmental type funds totaled $7,251,000 (net of accumulated depreciation) as of January 1. 2. Current year purchases of xed assets amounted to $150,000. 3. Depreciation on capital assets used in governmental-type activities amounted to $550,000. 4. As of January 1, there was $4,000,000 in bonds outstanding. Unamortized bond premium amounted to $20,000. 5. During the year, debt service expenditures for the year amounted to: interest, $420,000; principal, $375,000. Interest payments were made on June 30 and December 31. 6. For purposes of government-wide statements, $1,200 of the bond premium should be amortized. 7. At year-end, additional general obligation bonds were issued in the amount of $1,000,000 with a $100,000 premium

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