During the year, the City of Penstemon engaged in the following transactions. The city has a $12/31$ fiscal year end.

REQUIRED: Assuming that the city maintains its books and records in a manner to facilitate the preparation of fund financial statements, record the following transactions related to capital asset acquisition and payments on long$-$term debt.

a$.$ On April $1,2024,$ the city acquired a piece of equipment for $$150,000.$ The equipment will be used by the Streets Department. The city financed the purchase by borrowing $$150,000$ from the local bank at $5$ percent interest. Principal payments of $$20,000$ plus interest are due yearly each April $1.$

b$.$ The city paid $$30,000$ to employees who retired during the current year. These payments were made to compensate the employees for sick pay that had been earned but unused over the many years of the employees$$ service to the city

c$.$ The city transferred $$2,500,000$ from the general fund to a debt service fund to make principal and interest payments during the current year.

d$.$ The city made payments of $$2$ million principal and $$500,000$ interest on bonds that had been outstanding for several years.

e$.$ On June $1,$ the City paid $$4,000$ on account for supplies purchased in May.

f$.$ On September $1,2024,$ the city acquired several computers through a leasing agreement that qualified as a capital lease. The terms of the lease require yearly annual payments. The present value of the minimum lease payments is $$50,000.$