Question 26 Incomplete answer Marked out of 6.00 Flag question Capital asset adjustments for government-wide financial statements Oliver City reported capital assets of $4,300,000 and accumulated depreciation of $2,000,000 in the governmental activities column of its government-wide statement of net position for the year ended December 31, 2018. The total governmental funds column in Oliver's calendar year 2019 statement of revenues, expenditures, and changes in fund balances showed that Oliver's capital outlay expenditures were $340,000. Oliver City's director of finance estimated that total depreciation for 2019 was $200,000. Based on this information, prepare journal entries to adjust Oliver's 2019 fund financial statements so government-wide statements can be prepared. Description Credit Debit 0 0 > - 0 0 0 0 Net position To record beginning-of-year balances. - 0 0 0 0 To reduce expenditures and record capital assets. 0 0 0 0 To record 2019 depreciation. Please answer all parts of the question. Description Debit Credit 0 0 0 0 0 0 Accumulated depreciation - capital assets Capital assets Depreciation expense Expenditures - capital outlay Net position 0 0 O o To reduce expenditures and record capital assets. o 0 O 0 To record 2019 depreciation