***ALL OF THE ACCOUNT NAMES ARE CORRECT, JUST NEED THE TRANSACTION AMOUNTS. THANKS!

On July 1, 2016, the first day of its 2017 fiscal year, the City of Nevin issued at par $4,000,000 of 6 percent term bonds to construct a new city office building. The bonds mature in five years on July 1, 2021. Interest is payable semiannually on January 1 and July 1. A sinking fund is to be established with equal semiannual additions made on June 30 and December 31, with the first addition to be made on December 31, 2016. Cash for the sinking fund additions and the semiannual interest payments will be transferred from the General Fund shortly before the due dates. City officials assume a yield on sinking fund investments of 6 percent per annum, compounded semiannually. Investment earnings are added to the investment principal.

Required b-1. Prepare journal entries in the debt service fund for the following f no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Transaction Fund General Journal Debit Credit 1. Record a budget for the fiscal year ended June 30, 2017. Include an accrual for all interfund transfers to be received from the General Fund during the year. An appropriation should be provided only for the interest payment due on January 1, 2017 1 Term Bond Debt Service Fund Estimated other Financing Sources Estimated Revenues Appropriations Budgetary Fund Balance 2. On December 28, 2016, the General Fund transferred $468,922 to the debt service fund. The addition to the sinking fund was immediately invested in 6 percent certificates of deposit. 2a Term Bond Debt Service Fund Record the transfer from the general fund to the debt service fund. 468,922 Cash 468,922 2b Record the investment in the certificates of deposit. Investments Cash 3. On December 28, 2016, the city issued checks to bondholders for the interest payment due on January 1, 2017 3 Term Bond Debt Service Fund Expenditures-Interest 120,000 120,000 Cash