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Sage County is a calendar-year governmental organization that has governmental-type funds and reports both fund financial statements and government-wide financial statements. Below is selected

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Sage County is a calendar-year governmental organization that has governmental-type funds and reports both fund financial statements and government-wide financial statements. Below is selected information taken from Sage County's 20X5 financial records: Capital Projects Fund 20X5 proceeds from bonds issued at 95 20X5 expenditures (construction of new fire station, started in 20X5, $2,850,000 to be completed in 20X6) 1,600,000 In the capital projects fund, what amount would be reported as Restricted Fund Balance at December 31, 20X5?

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