General Ledger Entries; Statements) The following transactions took place in the town of Burchette during 20X3 1. A bond issue of $12,000,000 was authorized for the construction of a library, and the estimated bond issue proceeds and related appropriations were recorded in the General Ledger accounts of a new Capital Projects Fund. 2. The bonds were sold at a premium of $90,000. . The cost of issuing the bonds, $80,000, was paid. An order was placed for materials estimated to cost $6,500,000. 5. Salaries and wages of $500,000 were paid. 6. The premium, net of bond issuance costs, was transferred to a Debt Service Fund. The folowing transactions took place duing 20X4 following transactions took place during 20X4 7. The materials were received; the actual cost was $6,585,000. 8. Salaries and wages of $4,010,000 were paid. 9. All outstanding bills were paid. 10. The project was completed. The accounts were closed, and the remaining balance was transferred to a