(Journal entries for long-term debt)

Green Valley issued $\$ 20$ million of general obligation bonds to construct a multipurpose arena. These bonds will be serviced by a tax on the revenue from events held in the arena and will mature in 2013. During 2004, Green Valley budgeted $\$ 2,500,000$ of tax revenues and expenditures related to maintenance of the arena totaling $\$ 750,000$. In addition, interest on the bonds for 2004 totaled $\$ 2$ million.

Required: Prepare the journal entry (entries) necessary to record this information in the Debt Service Fund.