The following information relates to Vane City during the year ended December 31, 20X8:

1. On October \(31,20 \times 8\), to finance the construction of a city hall annex, Vane issued 8 percent, 10 -year general obligation bonds at their face value of \(\$ 800,000\). A contractor's bid of \(\$ 750,000\) was accepted for the construction of the annex. By year-end, one-third of the contract was completed at a cost of \(\$ 246,000\). all of which was paid on January 5, 20X9.

2. Vane collected \(\$ 109,000\) from hotel room taxes, restricted for tourist promotion, in a special revenue fund. The fund incurred and paid \(\$ 81.000\) for general promotions and \(\$ 22,000\) for a motor vehicle. Estimated revenues for 20X8 were \(\$ 112,000\) while appropriations were expected to be \(\$ 108,000\).

3. \(20 \mathrm{X} 8\) general fund revenues of \(\$ 313.500\) were transferred to a debt service fund and used to repay \(\$ 300,000\) of 9 percent, 15 -year term bonds, which matured in \(20 \times 8\), and to repay \(\$ 13,500\) of matured interest. The bond proceeds were used to construct a citizens' center.

4. At December 31, 20X8. Vane was responsible for \(\$ 83,000\) of outstanding encumbrances in its general fund. The city uses the nonlapsing method to account for its outstanding encumbrances.

5. Vane uses the purchases method to account for supplies in the general fund. At December 31, 20X8, an inventory indicated that the supplies inventory was \(\$ 42,000\). At December 31, 20X7, the supplies inventory was \(\$ 45,000\).

\section*{Required}

For each numbered item. make all the journal entries for the year ended December 31, 20X8, in all funds affected. Before each journal entry, identify the fund in which the journal entry is made. Do not make any adjusting/closing entries for items (1), (2), and (3).