the City of Peiffer starts the year of 2017 with the general fund and an enterprise fund. The general fund has two activities education indparks/recreation. For convenience assume that the general fund holds $123,000 cash and a new school building costing $1 The dy utilizes straight line depreciation The building has a 20 year life and na salvage value. The enterprise fund hos 562.000 cash and a new $600.000 chic auditorium with a 30 year life and no salvage value. The enterprise fund monitors past one ty. The rental of the civic auditorium for entertainment and other cultural affales The flowing transactions for the city take place during 2017. Assume that the city's fiscal year ends on December 31 a Decides to build a municipal park and transfers $70.000 into a capital projects und and immediately expends $20,000 for a piece of land. The creation of this fund avis transfer were made by the highest level of government authority Borrows $110,000 cashion a long term bond for use in creating the new municipal park c. Assesses property wes on the first day of the year. The assessment, which is immediately enforceable, totals $600,000 of this amount $510.000 Wibe collected during 2017 and another $50.000 is expected in the first month of 2018. The remainders expected about all through 2018 d. Constructs a building in the park in for $80.000 cash so that local cens can play basketball and other sports, it is put into Service on July and should last years with no svege value Builds a sidewalk around the new park for $10,000 cash and put it into service on July 1 should last for 10 years but the city plans to keep it up to a predetermined quality level so that will last most indefinitely Operis the park and charges an entrance fee of only a token amount so that it records the park therefore, in the general fund Cdictions during this list year to $8,000 9. Baysa new parking deck for $200,000, paying $20,000 cash and song a long-term role for the rest. The parking deck which is to go into operation on Jul sacross the street from the civic auditorium and is considered part of that act My.It has a 20 year life and no salvage value Receives a $100.000 cash grant for the city school system that must be spent for school lunches for the poor Appropriate spending of these funds is Mewed as an egityment of this grant Curing the current year $37,000 of the amount received was properly spont Los students in the school system a total leb of S6000 for books and the like of this amount, 90 percent collected during 3017 with the world in the wat