7.5 ind Below are a number of unrelated transactions for the Village of Centerville, some of which affect governmental activities at the government-wide level. None of the transactions has been recorded yet. Required Prepare in general joumal form the necessary entries in the governmental activities and appropriate fund journals for each transaction (If no entry is required for a transection/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) 6,A$5,000,000 issue of construction bonds was sold at par by the caphal propects fund Debt lssuance costs included administrative fees of $45,000 and prepaid insurance costs of $5,000. 2. A 55,000,000 issue of serial bonds to finance a capital project was sold at 102 plus accrued inferest in the amount of 550,000 . The accrued interegt and the premiam were recorded hin the debt service fund. Accrued interest on bonds sold must be used for interest payments, the premiurn is designated by state law for eventual payment of bond principal 3. The debt service fund made a $110,000 lease payment, of which $15,609 was interest. Funds uned to make the lesse payment came trom a capital grant received by the speclal revenue fund. 30 Governmental Activities Tax-supported serial bonds with a $3,500,000 par value were issued in cash to permit refunding of a $3,500,000 par value issue of lerm bonds . Assume that the term onda had been issued several yoars earfier at par 4a Debt Service Fund 8 A town secures a note payable in the amourt di $150,000 to pay intial expenses for coestruction of a new polce station. Town administrators plen lo repsy fivis note within three moenths with tax revenues 9. A county secures a bond andicipation note in the arnoure of 5500,000 to pay initial expenses for construction of a comvenfion center. The board of county comsinstanen 3. The debt service fund made a $110,000 lease payment, of which $15,809 was interest. Funds used to make the lease payment came from a captal grant recelved by the special revenue fund 7.5 ind Below are a number of unrelated transactions for the Village of Centerville, some of which affect governmental activities at the government-wide level. None of the transactions has been recorded yet. Required Prepare in general joumal form the necessary entries in the governmental activities and appropriate fund journals for each transaction (If no entry is required for a transection/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) 6,A$5,000,000 issue of construction bonds was sold at par by the caphal propects fund Debt lssuance costs included administrative fees of $45,000 and prepaid insurance costs of $5,000. 2. A 55,000,000 issue of serial bonds to finance a capital project was sold at 102 plus accrued inferest in the amount of 550,000 . The accrued interegt and the premiam were recorded hin the debt service fund. Accrued interest on bonds sold must be used for interest payments, the premiurn is designated by state law for eventual payment of bond principal 3. The debt service fund made a $110,000 lease payment, of which $15,609 was interest. Funds uned to make the lesse payment came trom a capital grant received by the speclal revenue fund. 30 Governmental Activities Tax-supported serial bonds with a $3,500,000 par value were issued in cash to permit refunding of a $3,500,000 par value issue of lerm bonds . Assume that the term onda had been issued several yoars earfier at par 4a Debt Service Fund 8 A town secures a note payable in the amourt di $150,000 to pay intial expenses for coestruction of a new polce station. Town administrators plen lo repsy fivis note within three moenths with tax revenues 9. A county secures a bond andicipation note in the arnoure of 5500,000 to pay initial expenses for construction of a comvenfion center. The board of county comsinstanen 3. The debt service fund made a $110,000 lease payment, of which $15,809 was interest. Funds used to make the lease payment came from a captal grant recelved by the special revenue fund
