Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) Fund/Governmental Activtle Transaction General Journal Debit Credit 1. The city received a donation of land that is to be used by Parks and Recreation to develop a public park. At the time of the donation, the land had an acquisition value of $5,600,000 and was recorded on the donor's books at a historical cost of $4,900,000 General Fund Governmental Activities 2. The Public Works Department sold machinery with a historical cost of $35,700 and accumulated depreciation of $29,450 for $5,900. The machinery had originally been purchased with special revenue funds. General Fund Activities 3. A car was leased for the mayor's use. The first payment was $1,100 and the present value of the remaining lease payments was $33,000. (Note: The initial cash payment was made by the General Fund.) 3a General Fund Governmental Activities 3b Record the lease of car to the Mayor. Prepare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) Fund/Governmental Activtle Transaction General Journal Debit Credit 1. The city received a donation of land that is to be used by Parks and Recreation to develop a public park. At the time of the donation, the land had an acquisition value of $5,600,000 and was recorded on the donor's books at a historical cost of $4,900,000 General Fund Governmental Activities 2. The Public Works Department sold machinery with a historical cost of $35,700 and accumulated depreciation of $29,450 for $5,900. The machinery had originally been purchased with special revenue funds. General Fund Activities 3. A car was leased for the mayor's use. The first payment was $1,100 and the present value of the remaining lease payments was $33,000. (Note: The initial cash payment was made by the General Fund.) 3a General Fund Governmental Activities 3b Record the lease of car to the Mayor