The City of Minden entered into the following transactions during the year 2026.

1. A bond issue was authorized by vote to provide funds for the construction of a new municipal building, which it was estimated would cost $1,000,000. The bonds are to be paid in 10 equal installments from a Debt Service Fund, and payments are due March 1 of each year. Any premium on the bond issue, as well as any balance of the Capital Projects Fund, is to be transferred directly to the Debt Service Fund.

2. An advance of $80,000 was received from the General Fund to underwrite a deposit on the land contract of $120,000. The deposit was made.

3. Bonds of $900,000 were sold for cash at 102. It was decided not to sell all the bonds because the cost of the land was less than expected.

4. Contracts amounting to $780,000 were let to Standstone and Company, the low bidder, for construction of the municipal building.

5. The temporary advance from the General Fund was repaid and the balance on the land contract was paid.

6. On the basis of the architect’s certificate, contract billings were approved for $640,000 for the work completed to date.

7. Contract billings paid in cash by the treasurer amounted to $620,000.

8. Because of changes in the plans, the contract with Sandstone and Company was revised to $880,000; the remainder of the bonds were sold at 101.

9. Before the end of the year, the building had been completed, and additional contract billings amounting to $230,000 approved. All contract billings were paid by the treasurer to the con- tractor in final payment for the work.

Required:

A. Prepare entries to record the foregoing transactions (excluding the entries necessary to close out the fund) of the Capital Projects Fund.

B. Prepare a preclosing trial balance for the Capital Projects Fund.

C. Prepare entries necessary to close out the Capital Projects Fund on the completion of construction.

D. Prepare a statement of revenues, expenditures, and changes in fund balance for the Capital Projects Fund.

E. Prepare preclosing trial balances at December 31, 2026, for the Debt Service Fund, considering only the proceeds, expenditures, and transfers resulting from transactions of the Capital Projects Fund.