The Federal Government's General Fund Reports the Following Transactions During

The federal government's general fund reports the following transactions during 2017.
REQUIRED:
Prepare journal entries to record each of these transactions. If no entry is required, write "No entry required."
a. The general fund contracts with a construction firm to build an Afghan and Iraqi war memorial based on a design selected by the Afghan and Iraqi War Veterans Commission. The estimated cost of the project is $3.5 million.
b. The general fund makes a $750,000 progress payment on the Afghan and Iraqi War Memorial contract.
c. The general fund purchases new window treatments for the living areas of the White House. The cost is $650,000.
d. The general fund reviews and accepts a design for the 2018 White House Christmas ornament and is billed $500,000 for the design cost.
e. The general fund contracts for the manufacture of 1.5 million 2018 Christmas ornaments. The manufacturing cost for each ornament is $2.00. The ornaments are paid for and will be available for sale in the White House beginning in August 2018.
f. The general fund elects to record its inventory of assets held for sale at historical cost.