4. Tax-supported serial bonds with a $7,400,000 par value were issued in cash to permit refunding of a $7,400,000 par value issue of term bonds. Assume that the term bonds had been issued several years earlier at par. 4a Debt Service Fund Record the issue of tax-supported serial bonds for partial refund of term bonds. Cash 7,400,000 Other Financing SourcesProceeds of Refunding Bonds 7,400,000 4b Record the refund of the par value bonds. Other Financing Uses-Refunded Bonds 7,400,000 Cash 7,400,000