repare journal entries for each of the following transactions entered into by the City of Loveland. (If no entry is required for a ransaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole 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 $9,470,000; currentyear construction costs totaled $670,000, paid in cash. The full cost is attributed to the building because it was constructed on city-owned property. The building came in $7,000 under budget, which is transferred to the General Fund. 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. 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 $1,056,000. \begin{tabular}{|l|l|l|l|l|} \hline 6 & General Fund & No Journal Entry Required \\ \hline & & & \\ \hline & & & \\ \hline & Governmental Activities & Expenses-General Government \\ \hline & & Machinery and Equipment & \\ \hline \end{tabular}