1.The Whoville City Debt Service Fund accumulates resources to pay its $2 million general obligation debt.The debt is payable in equal annual installments of principal over 10 years with 5% interest on the unpaid principal.Prepare journal entries to record the following transactions in the Debt Service Fund.

a.The city levies a special property tax amounting to $500,000 to pay debt service on its long-term general obligation debt.The tax must be accounted for in the Debt Service Fund.

b.All the property taxes levied for debt service purposes are collected.

c.The city invests $150,000 in a six-month certificate of deposit.

d.Debt service (interest of $100,000 and principal of $200,000) becomes due and payable.

e.The debt service liabilities are paid.

f.The certificate of deposit in transaction "c" matures and the city receives a total of $153,000, which includes $3,000 of interest.