General capital assets are accounted for differently in fund governmental-wide financial statements.

A city engaged in the following transactions during a year.
a. it acquired computer equipment at a cost of $40,000.
b. it completed construction of a new jail, incurring $245,000 in new costs. in the previous year, th city had incurred $2.5 millin construction costs. the project was accounted for in a capital project fund.
c. it sold for $16,000 land that it had acquired three years earlier for $28,000.

1. prepare journal entries to reflet the transactions in an appropriate governmental fund (e.g., a gneral fund, or a capital projects fund).
2. prepare journal entries to reflect the transactions in the city's government-wide statements.