On July 1,2024 , the City of Newark, New Jersey purchased $40,000 of computer equipment that has a Five-year life. [Assume the balances on the Fund Based financials as of July 1st had Cash =$100,000 and Fund Balance =$100,000] REQUIRED: 1. Prepare the original Journal Entry on July 1, 2024. (Assume this is done in the FUND BASED Financials.) 2. Prepare the Fund Based Balance Sheet as of July 1, 2024. 3. Prepare the Government-Wide Balance Sheet as of July 1, 2024