16.

On December 21, 2020, the General Fund transferred the appropriate amount to the 2020 Regular Serial Bond Debt Service Fund for the first annual principal payment, which is due on December 31, 2020, and the second interest payment, which is also due on December 31, 2020. On December 30, 2020, a cash payment was made from the Debt Service Fund to the City bondholders for the $1,600,000 annual principal payment and the second $1,000,000 interest payment. Record the appropriate journal entries below for the transfer from the General Fund to the Debt Service Fund, as well as for the annual principal payment and second interest payment made from the Debt Service Fund. Label each journal entry to indicate whether it is the entry for the Debt Service Fund (for the Governmental Fund Financial Statements) or for Governmental Activities (for the Government-Wide Financial Statements). If no entry is needed, please type the words NO ENTRY below the Debt Service Fund or Governmental Activities label.