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The following relate to New York City for tis fiscal year ended December 31, 2011: On 1/31/2011, the city purchase as a ninvestment for its debt service fund a fifteen-year, 6% $1 million bond for $998k. During the year it received $30k in interest. At year-end the market value of the bond was $999,500. 12/31/2010, the Foundation for the Arts pledged to donate $1, up to a max of $1 million, for each $3 that the museum is able to collect from other private contributions. The funds are to finance construction of the city-owned art museum. During 2011, the city collected $900k and received the matching matching money from the Foundation. In January and February 2012 it collected an additional $2,400,000 and also received the matching money. 2011 During the year the city imposed license fees on street vendors. All vendors were required to purchase the licenses by 9/30/11. The licenses cover the one-year period from 10/01/11 through 9/30/12. During 2011 the city collected $240k in license fees. 2011 The city sold a fire truck for $40k that it had acquired five years earlier for $250k. At the time of sale the city had charged $225k in depreciation 2011 The city received a grant of $2 million to partially reimburse costs of training police officers. During the year the city incurred $1.5 million of allowable costs and received $1.2 million. It expects to incur an additiional $50k in allowable costs in January 2012 and to be reimbursed for all allowable costs by the end of February 2012. Review the above transactions and compute: the total license fees to be recorded in the 2011 fund statement (

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