General fixed assets as of the beginning of the year, which had not been recorded, were as follows:

Land $ $7,694,000$

Buildings $33,372,300$

Improvements Other Than Buildings $14,827,700$

Equipment $11,560,000$

Accumulated Depreciation, Capital Assets $25,313,200$

During the year, expenditures for capital outlays amounted to $$7,504,000.$ Of that amount, $$4,802,500$ was for buildings; the remainder was for improvements other than buildings.

The capital outlay expenditures outlined in $(2)$ were completed at the end of the year $($and will begin to be depreciated next year$).$ For purposes of financial statement presentation, all capital assets are depreciated using the straight$-$line method, with no estimated salvage value. Estimated lives are as follows: buildings, $40$ years; improvements other than buildings, $20$ years; and equipment, $10$ years.

In the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances, the City reported proceeds from the sale of land in the amount of $$600,400.$ The land originally cost $$505,400.$

At the beginning of the year, general obligation bonds were outstanding in the amount of $$4,006,000.$ Unamortized bond premium amounted to $$23,000.$

During the year, debt service expenditures for the year amounted to: interest, $$741,000$; principal, $$526,300.$ For purposes of government$-$wide statements, $$2,300$ of the bond premium should be amortized. No adjustment is necessary for interest accrual.

At year$-$end, additional general obligation bonds were issued in the amount of $$2,172,200,$ at par. Journal entry worksheet

Record the entry for debt service expenditure towards bonds.

Nate: Enter debits before credits. Journal entry worksheet

$(1)$

$2$

$3$

$4$

$5$

$6$

$7$

$8$

At year$-$end, additional general obligation bonds were issued in the amount of $$2,172,200,$ at par.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[07,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$