Record the effect of each transaction in the provided spreadsheet.The following

Record the effect of each transaction in the provided spreadsheet.The following items describe events that took place during the current FY that may affect the classification of Governmental Net Position in the Government-wide Statement of Net Position.1. The town constructed a new intermediate school at a cost of $3000000. Construction was financed with bonds issued in the amount of $3000000 all of which remained outstanding at year-end.2. Voters approved a $1000000 bond issue to build a new gym for the high school. The bond was issued; construction of the gym had not begun as of year-end3. The town retired $850000 in bonds used to finance construction of a newtown hallbuilding several years ago.4. The town established asinking fundinto which $150000 was placed for eventual retirement of the schoolconstruction bonds.5. The town recorded $645000 indepreciation expenseon governmentalcapital assets.6. The town sold land that had a book value of $450000 for $600000.

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