C. Ho w much should Twin City report as Property Tax Revenue in its General Fund? 2. Public Independence School District issued $100 million general obligation bonds to finance the construction of a New High School with modern facilities. The bonds were issued at a premium of $600,000 Required a. Prepare the Journal entries to record the issue of the Bonds in the General Fund. b. Prepare the Journal entries to Transfer the Premium to the appropriate account S. Prepare the Journal Entries to Transfer the Proceeds to Capital Project Fund for New School Construction. c. QUESTIONS (10 POINTS) What are the major differences between Expenditures and Expenses as used in Governmental Accounting? ver nme decreases in NeT financa resources, in Contrast To SSAY ntal fund Expenatures arre