Just before the close of its fiscal year,a city government issues $2 million of bonds to finance the acquisition of capital assets.However,no part of the debt is repaid by year-end and no part of the debt is used to purchase capital assets.What adjusting entry is needed to prepare the city's government-wide financial statements from its fund-level financial statements?

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The Answer of Just before the close of its fiscal year,a city government issues $2 million of bonds to finance the acquisition of capital assets.However,no part of the debt is repaid by year-end and no part of the debt is used to purchase capital assets.What adjusting entry is needed to prepare the city's government-wide financial statements from its fund-level financial statements?

Just Before the Close of Its Fiscal Year,a City Government