As of December 31, 2022, Sandy Beach had $9,800,000 in 6.5 percent serial bonds outstanding. Cash of $433,000 is the debt service fund's only asset as of December 31,2022 , and there are no liabilities. The 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 are transferred from the General Fund, and the debt service fund levies property taxes in an amount sufficient to cover principal payments. 3. Property taxes in the amount of $1,090,000 were levied (no estimate for uncollectible accounts has been made). \begin{tabular}{|c|l|l|l|l|} \hline 3. Property taxes in the amount of $1,090,000 were levied (no estimate for uncollectible accounts has been made). \\ \hline 3 & Serial Bond Debt Service Fund & & & \\ \hline & & & & \\ \hline & Governmental Activities & & & \\ \hline & & & & \\ \hline 4. Property taxes in the amount of $1,085,000 were collected. & \\ \hline 4 & Serial Bond Dobt Service Fund & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & Govemmental Activitios & & \\ \hline \end{tabular} 5. Cash was received from the General Fund and checks were written and mailed for the July 1 principal and interest payments. \begin{tabular}{|c|l|l|l|l|} \hline 5a & Serial Bond Debt Service Fund & Record cash received from the general fund. \\ \hline & & & & \\ \hline 5b & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & Gecord principal and interest paid. \\ \hlinec & Governmental Activities & & \\ \hline & & & \\ \hline \end{tabular} b. Prepare a statement of revenues, expenditures, and changes in fund balances for the debt service fund for the year ended December 31, 2023. c. Prepare a balance sheet for the debt service fund as of December 31, 2023