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Breneman City reported bonds payable of $5,500,000 in the governmental activities column of its statement of net position for fiscal year ended June 30,
Breneman City reported bonds payable of $5,500,000 in the governmental activities column of its statement of net position for fiscal year ended June 30, 2021. During fiscal year ended June 30, 2022, the City issued bonds payable totaling $1,000,000, and made principal payments on bonds payable totaling $220,000. Prepare the three journal entries required to adjust the governmental funds statements to the government-wide statements for fiscal year ended June 30, 2022.
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