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.) 3. A car was leased for the mayor's use. The first payment was $1,200 and the present value of the remaining lease payments was $25,000. (Note: The initial cash payment was made by the General Fund.) \begin{tabular}{|l|l|l|} \hline 3a & General Fund \\ \hline & & \\ \hline 3b & Governmental Activities \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & \\ \hline \end{tabular} 4. During the current year, a capital projects fund completed a new public safety building started in the prior year. The total cost of the project was $9,620,000; currentyear construction costs totaled $700,000, paid in cash. The full cost is attributed to the building because it was constructed on city-owned property. The building came in $6,400 under budget, which is transferred to the General Fund. \begin{tabular}{|c|l|l|l|} \hline 4a & Capital Project Fund & Record the $700,000 cash payment made for construction costs during this year. \\ \hline & & & \\ \hline & & & \\ \hline 4b & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline c & & \\ \hline & & \\ \hline \end{tabular} 5. The city records a half year of straight-line depreciation on capital assets placed in service during the year. The building in item 4 above has an estimated 30 -year life and no salvage value. \begin{tabular}{|l|l|l|l|} \hline 5 & General Fund & \\ \hline & & \\ \hline & & \\ \hline & Governmental Activities \\ \hline & & \\ \hline & & \\ \hline \end{tabular} 6. Due to technological developments, the city determined that the service capacity of some of the technology equipment used by general government had been impaired. The calculated impairment loss due to technology obsolescence was $1,116,000. \begin{tabular}{|l|l|l|l|} \hline 6 & General Fund & \\ \hline & & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular}