2. This year Riverside began work on an outdoor amphitheater and concession stand at the city's park. It is to be financed by a $3,500,000 bond issue and supplemented by a $500,000 General Fund transfer. The following transactions occurred during the current year. Prepare the journal entries to record the transactions ( 10pts ). 1. The General Fund transferred $500,000 to the Park Building Capital Projects Fund. 2. A contract was signed with Restin Construction Company for the major part of the project on a bid of $2,700,000. 3. Preliminary planning and engineering costs of $69,000 were vouchered for the Great Pacific Engineering Company. (This cost had not been encumbered.) 4. A payable was recorded for an $18,500 billing from the Water and Sewer enterprise fund for the cost of extending water pipes to the new concession stand. 5. An invoice in the amount of $1,000,000 was received from Restin for progress to date on the project. 6. The $3,500,000 bonds were issued at par. 7. The amount billed by the contractor (see Transaction 5 ) less 5 percent retainage was paid. 8. Temporary investments were purchased at a cost of $1,800,000. 9. Closing entries were prepared as of year-end. Assume that $2,500,000 of the encumbrances outstanding will be paid from the bond proceeds and are therefore considered restricted resources. The remaining fund balance is assigned