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 journal form the necessary entries in the governmental activities and appropriate fund journals for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) 
2. A $5,000,000 issue of serial bonds to finance a capital project was sold at 102 plus accrued interest in the amount of $50,000. The accrued interest and the premium were recorded in the debt service fund. Accrued interest on bonds sold must be used for interest payments; the premium is designated by state law for eventual payment of bond principal. \begin{tabular}{|c|l|l|l|} \hline 2a & Capital Projects Fund & Record the issuance of bonds \\ \hline & & Cash \\ \hline & & Other Financing Sources-Proceeds of Bonds \\ \hline & & & 5,000,000 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline & & Other Financing Sources-Proceeds of Bonds \\ \hline & Debt Service Fund & \\ \hline 2b & & Record the accrued interest and Premium on bonds \\ \hline & & Cash \\ \hline & & Other Financing Sources-Premium on Bonds Payable \\ \hline & Revenues \\ \hline & Governmental Activities & Record the issuance of bonds \\ \hline c & & Cash \\ \hline & & Bonds Payable \\ \hline & Interest Payable \\ \hline & Premium on Bonds Payable \\ \hline & \\ \hline \end{tabular} 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 capital grant received by the special revenue fund. \begin{tabular}{|l|l|l|} \hline 3f & & Record the principal and interest on lease paid. \\ \hline & & Expenses-Interest on Lease \\ \hline & Lease Obligations Payable \\ \hline & Cash & \\ \hline & & 15,809 \\ \hline \end{tabular} 4. 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 term bonds. Assume that the term bonds had been issued several years earlier at par. 5. Four months prior to year-end, 3 percent special assessment bonds totaling $500,000 were issued to fund a streetlight improvement project in a local subdivision. The bonds are secondarily backed by the village. The first $25,000 installment will be due from property owners six months after the initial bond issuance, but no debt payments are due in the first year. \begin{tabular}{|c|l|l|} \hline 5 5a & Debt Service Fund & \multicolumn{2}{|l|}{ Record the issue of special assessment bonds. } \\ \hline & & Cash \\ \hline & & Other Financing Sources-Proceeds of Special Assessment Bonds \\ \hline 5b & & \multicolumn{2}{|c}{5} \\ \hline & Record the current and deferred installment receivable from the local subdivision. \\ \hline & Assessments Receivable-Current \\ \hline & Assessments Receivable-Unavailable \\ \hline & Revenues \\ \hline & Deferred Inflow of Resources-Unavailable revenues \\ \hline \end{tabular} 7. Due to an unexpected change in interest rates, a village issued a $2,500,000 bond at 98 percent of par value. The bond was issued to fund construction of a bike path, including restrooms and picnic shelters. It is expected that the shortage of cash will be covered by a future transfer from another fund
