Question $39$

$2$ pts

A city acquired two vehicles in a particular year: $(1)$ a sedan for $$20,000$ that was paid for through the General Fund and $(2)$ a sanitation truck for $$125,000$ that was paid for through the Capital Projects Fund. How should the assets be reported in the city's fund$-$level financial statements?

$$145,000$ should be reported as assets in the capital projects fund

neither acquisition should be reported as assets in the fund$-$level financial statements

$$145,000$ should be reported as assets in the general fund

$$20,000$ should be reported as assets in the general fund and $$125,000$ should be reported as assets in the capital projects fund