Gotham City owns and operates a mini-bus system which it accounts for in an enterprise fund. Prepare journal entries to record the following transactions, which occurred in a recent year.

1. The mini-bus system issued $5 million of 8 percent revenue bonds at par and used the proceeds to acquire new mini-buses.
2. As required by the bond covenant, the system set aside 1 percent of the gross bond proceeds for repair contingencies.
3. The system accrued 6 months interest on the revenue bonds at year-end.
4. The system incurred $30,000 of repair costs and paid for them with cash set aside for repair contingencies.