9. A $2,000,000 bond was issued on April 20, 2020 to build a new bridge. The bonds carried a 4% interest rate and are due in 10 years. The first bond payment was made on March 31, 2021 for $280,000, which included $80,000 of interest.

Required:

(A.) Prepare the required journal entry in the Capital Projects Fund on April 20 for the Fund Financial Statements and the entry on March 31 to record the repayment of the bonds.

(B.) Prepare the required journal entries for the Government-Wide Financial Statements.