On April 30, 2006, the fiscal agent for the Town of Wallen Debt Service Fund paid the final serial payment of $50,000 on the town’s 8% general obligation bonds, together with semiannual interest. The Debt Service Fund had provided sufficient cash to the fiscal agent a few days earlier.

Prepare a journal entry for the Town of Wallen Debt Service Fund to record the fiscal agent’s payment of bond principal and interest on April 30, 2006.