Problem 16-33 (Algo) (LO 16-2, 16-6, 16-7)

A city orders a new computer for its police department that is recorded within its general fund. The computer has an anticipated cost of $94,700. Its actual cost when received is $96,880. Payment is subsequently made.

a. Prepare all required journal entries for both fund and government-wide financial statements. (Select the appropriate fund for each situation when required. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)