The City of Boxborough is preparing its government-wide financial statements from its fund financial statements.\ \ The City identifies Capital Assets with a book value of $800,000 (all numbers in $1,000s) at the beginning of the year that are depreciated at the rate of $40,000 per year. Its records also indicate that it spent $480,000 on new Capital Assets during the year. What two reconciliation entries must the City include in its government-wide financial statements relating to Capital Assets?\ \ Reconciliation Spreadsheet\ Description Debit Credit\ \ \ Record capital assets for government-wide financial statement presentation\ Depreciation \ \ \ Record depreciation for government-wide financial statement presentation