Prepare journal entries for a local government to record the following transactions, first for fund financial statements and then for government-wide financial statements.

1. The government sells $992,000 in bonds at face value to finance construction of a warehouse.

2. A $1.14 million contract is signed for construction of the warehouse. The commitment is required if allowed.

3. A $164,000 transfer of unrestricted funds was made for the eventual payment of the debt in (a).

4. Equipment for the fire department is received with a cost of $15,240. When it was ordered, an anticipated cost of $14,600 had been recorded.

5. Supplies to be used in the schools are bought for $4,200 cash. The consumption method is used.

6. A state grant of $109,250 is awarded to supplement police salaries. The money will be paid to reimburse the government after the supplement payments have been made to the police officers.

7. Property tax assessments are mailed to citizens of the government. The total assessment is $648,000, although officials anticipate that 4 percent will never be collected. There is an enforceable legal claim for this money and the government can use it immediately.