The following information pertains to activities for the construction of an office building (the project...
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Accounting
The following information pertains to activities for the construction of an office building (the project hereafter) in capital project fund (CPF) of SB city during the fiscal year 2017 ending on 12/31/2017.
CPF signed a contract with an architectural firm in the amount of $600,000 for the completion of the architectural design for the project.
Prepare any necessary journal entries for the above transactions for respective fund statements and government wide financial statements.
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