Problem 3: During the year ended December 31, 2020, a local government had the following transactions: A. Paid salaries and other personnel costs of employees, $100,000; B. Retired debt principal of $10,000; paid interest of $2,200; C. Purchased equipment at the beginning of 2020 for $30,000; the equipment is expected to last 6 years and have a salvage value of $6,000; D. Received a bill for $500 on January 2, 2021, from Commonwealth Edison for electricity used in November and December, 2020. Based on the preceding transactions, compute total annual expenditures for 2020 for the local government assuming transactions A, C, and D occurred in the general fund, and transaction B occurred in a debt service fund. Then compute total annual expenses for 2020 for the government assuming all transactions occurred in the water utility enterprise fund. General fund Expenditures Debt service fund Expenditures Enterprise fund Expenses Item Paid salaries Retired debt principal Paid interest Purchased equipment Depreciation Electricity bill Totals