The City of North Florida maintains its books so as to prepare fund accounting statements and records worksheet adjustments in order to prepare government-wide statements. This statements means you may assume that all entries for the following transactions were appropriately recorded using modified accrual accounting at the fund level. You are to prepare, in journal form, worksheet adjustments for the government-wide conversion for each of the following items. Please note you are not preparing the worksheet itself, but only the conversion entries. The items are organized below consistent with the "Steps" presented in the on-line lecture. General fixed assets as of the beginning of the year, which had not been recorded, were as follows: Asset Balance Land $7,250,000 Buildings 32,355,000 Improvements Other Than Buildings 16,111,000 Equipment 11,554,000 Accumulated Depreciation, Buildings 8,450,000 Accumulated Depreciation, Improvements other than buildings 5,600,000 Accumulated Depreciation, Equipment 5,455,000 During the year, expenditures for capital outlays amounted to $6,112,000. Of that amount, $4,320,000 was for a new building placed into service on 8/1 of the current year; the remainder was for improvements other than buildings and was spread evenly throughout the year. For purposes of financial statement presentation, all capital assets are depreciated using the straight-line method, with no estimated salvage value. Average estimated lives on all prior year assets are as follows: buildings, 40 years; improvements other than buildings, 20 years; and equipment, 10 years. Assume all assets have remaining useful lives. In the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances, the City reported proceeds from the sale of land in the amount of $600,000. The land originally cost $535,000. At the beginning of the year, general obligation bonds were outstanding in the amount of $4,000,000. During the year, debt service expenditures for the year amounted to: interest, $580,000; principal, $400,000. For purposes of governmentwide statements. No adjustment is necessary for interest accrual on these bonds. On December 1 of the current year, additional general obligation bonds were issued in the amount of $1,200,000, at par. These bonds are serial bonds with principal and interest paid annually over 20-years at 4% interest. Deferred property taxes of $89,000 at the end of the previous fiscal year were recognized as property tax revenue in the current year's Statement of Revenues, Expenditures, and Changes in Fund Balance. The City levied property taxes for the current fiscal year in the amount of $10,000,000. When making the entries, it was estimated that 2 percent of the taxes would not be collected. At year-end, $600,000 of the taxes had not been collected. It was estimated that $300,000 of that amount would be collected during the 60-day period after the end of the fiscal year and that the remainder after adjustment for the allowance account would be collected after that time. The allowance account represents the amount the city still considers uncollectible. In addition to the expenditures recognized under modified accrual accounting, the City computed that $250,000 should be accrued for compensated absences and charged to public safety. The City's attorney noted an outstanding lawsuit against the City with a claim of $2,000,000. The attorney indicated the expected settlement amount was $250,000 with payment occurring in September of 2013. In the Statement of Revenues, Expenditures, and Changes in Fund Balances, General Fund transfers out included $500,000 to a debt service fund, $600,000 to a special revenue fund, and $900,000 to an enterprise fund. The governmental funds balance sheet shows the General fund has given a "short" term loan to a special revenue fund in the amount of $100,000