As of December 31, 2019, Sandy Beach had $9700,000 in 5.5 percent serial bonds outstanding $499,000 is the debt service fund's onl serial bonds pay interest semiannually on January 1 and July 1, with $500,000 in bonds being retired on each interest payment date. Resources for payment of interest ar and the debt service fund levies property taxes in an amount sufficient to cover principal payments. y asset as of December 31, 2019, and there are no liabilities. The e transferred from the General Fund, Required a-1. Prepare debt service fund and government-wide entries in general journal form to reflect, as necessary formation and transactions for FY 2020. (If 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 / Governmental General Journal Debit Credit Activties for FY 2020 consists of estimated revenues of $1,01 0,000 and estimated other financing sources equal to the amount of 1. The operating budget interest to be paid in FY 2020. Appropriations must be provided for interest payments and bond r 1 and July 1 on Serial Bond Debt Service Fund Governmental Activities 2. Cash was received from the General Fund and checks were writen and mailed for the January 1 principal and interest payments