****I know all of the accounts and most of the numbers. Just need help on the numbers that I did not fill in- mostly section O and section S.*****

Residents from the Town of Mountain View authorized a $10,900,000 renovation to their historic town hall on November 15, 2019. Financing for the project consists of $4,000,000 from a 3 percent serial bond issue, $3,600,000 from a state grant, and $3,300,000 from the General Fund. Debt service for the serial bonds will be provided by a one-quarter-cent city sales tax imposed on every dollar of sales in the city. The town has a calendar year-end.

Required Prepare journal entries to record the related transactions in the towns capital projects fund, debt service fund, and governmental activities at the government-wide level. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Credit Transaction Fund General Journal Debit a. Record the 2020 budget for the Serial Debt Service Fund. Sales taxes of $340,000 are expected to be collected in 2020, the only appropriation is expected to be six months of interest on the serial bond. Debt Service fund Estimated Revenues 340,000 Appropriations Budgetary Fund Balance 60,000 280,000 Capital Projects Fund No Journal Entry Required Governmental Activities No Journal Entry Required b. The town transfers $3,300,000 from the General Fund to a newly established capital projects fund. b Debt Service fund No Journal Entry Required Capital Projects Cash 3,300,000 Fund Other Financing Sources-Interfund Transfers In 3,300,000 Governmental Activities No Journal Entry Required C. Planning and architect's fees for the town hall renovation are paid in the amount of $210,000. Debt Service fund No Journal Entry Required Capital Projects Fund Construction Expenditures 210,000 Cash 210,000 Governmental Activities Construction Work in Progress 210,000 Cash 210,000 d. The town hall renovation construction contract is awarded to a local contractor, Central Paving and Construction, for $9,374,000. Debt Service fund No Journal Entry Required Capital Projects Fund Encumbrances 9,374,000 Encumbrances Outstanding 9,374,000 Governmental Activities No Journal Entry Required e. On April 1, 2020, the town issues serial bonds with a face value totaling $4,000,000 and having maturities ranging from one to 20 years at 102. The bonds bear interest of 3 percent per annum, payable semiannually on April 1 and October 1. e(1) Debt Service fund Record the issue of bonds in the Debt Service Fund Cash 80,000 Other Financing Sources Premium on Bonds Payable 80,000 e(2) Premiums on bonds issued must be deposited directly in the debt service fund and are restricted for debt service. (Remember to amend the debt service fund budget because this premium was not anticipated.) Estimated Other Financing SourcesPremium on Bonds 80,000 Budgetary Fund Balance 80,000 e(3) Capital Projects Fund Premiums are amortized using the straight-line method over 40 interest periods. Record the issue of bonds. Cash 4,000,000 Other Financing SourcesProceeds of Bonds 4,000,000 e(4) Governmental Activities Record the issue of bonds. 4,080,000 Cash Premium on Bonds Payable Bonds Payable 80,000 4,000,000 f. The capital projects fund paid the city's Utility Fund $80,000 for wiring associated with the renovation. No encumbrance had been recorded for this service. Debt Service fund No Journal Entry Required Capital Projects Fund Construction Expenditures 80,000 Cash 80,000 Governmental Activities Construction Work in Progress 80,000 Cash 80,000 g. On October 1, 2020, the city mailed checks to bondholders for semiannual interest on the bonds. Debt Service fund Expenditures Interest Cash 60,000 60,000 Capital Projects Fund No Journal Entry Required Governmental Activities 2,000 Premium on Bonds Payable Expenses Interest on Long-term debt Cash 58,000 60,000 h. Sales taxes earmarked for debt service of $340,000 were collected. Debt Service fund Cash Revenues 340,000 340,000 Capital Projects Fund No Journal Entry Required Governmental Activities Cash 340,000 General Revenues-Taxes 340,000 i. Central Paving and Construction submitted a progress billing to the town for $4,000,000. The city's public works inspector agrees that all milestones have been met for this portion of the work. Debt Service fund No Journal Entry Required Record the reversal of encumbrances for the progress to date on the project and also the construction expenditure for the invoice received Encumbrances Outstanding 4,000,000 Capital Projects Fund 4,000,000 Construction Expenditures Encumbrances Contracts Payable 4,000,000 4,000,000 Governmental Activities Construction Work in Progress 4,000,000 contracts. Pavahle ...A.000.000...2. j. The town paid Central Paving and Construction the amount it had billed, except for 3 percent that was withheld as a retained percentage per terms of the contract. Debt Service fund No Journal Entry Required Capital Projects Fund 4,000,000 Contracts Payable Contracts PayableRetained Percentage Cash 120,000 3.880,000 Governmental Activities 4,000,000 Contracts Payable Contracts Payable-Retained Percentage Cash 120,000 3,880,000 k. Grant funds totaling $3,600,000 are received from the state historical society because eligible expenditures have been made. Debt Service fund No Journal Entry Required Capital Projects Fund Cash 3,600,000 Revenues 3,600,000 Governmental Activities Cash 3,600,000 Program Revenue-General Government 3,600,000 1. At year-end, closing entries are made; In the capital projects fund, $3,300,000 of the fund balance is assigned, and the remainder is restricted. (1) Debt Service fund Appropriations 60,000 Budgetary Fund Balance 360,000 Estimated Revenues 340,000 Estimated Other Financing SourcesPremium on Bonds 80,000 Record the entry to close the operating statement account in the Debt Service Fund. Revenues 340,000 Other Financing SourcesPremium on Bonds Payable 80,000 ExpendituresInterest Fund Balance-Restricted 60,000 360,000 (3) Capital Projects Fund Record the entry to close the budgetary statement account in the Capital Projects Fund. Revenues 3,600,000 Other Financing SourcesInterfund Transfers In 3,300,000 Other Financing SourcesProceeds of Bonds 4,000,000 Construction Expenditures Fund Balance-Restricted Fund Balance-Assigned 3,300,000 m. Record the 2021 budget for the Serial Debt Service Fund; $300,000 of earmarked sales taxes are expected to be collected in 2021 appropriations include a $400,000 principal payment on April 1 and two serial bond interest payments. Debt Service fund Estimated Revenues 300,000 Budgetary Fund Balance 214,000 Appropriations 514,000 Capital Projects Fund No Journal Entry Required Governmental Activities No Journal Entry Required n. Sales tax collections for debt service amounted to $400,000 Debt Service fund Cash Revenues 400,000 400,000 Capital Projects Fund No Journal Entry Required Governmental Activities 400,000 Cash General RevenuesTaxes 400,000 0. Central Paving and Construction submitted a final billing to the town for $3,300,000. Upon final inspection by the Public Works Department, a leak was discovered in the roof. Debt Service fund No Journal Entry Required Record the reversal of encumbrances for the progress to date on the project and also the construction expenditure for the invoice received. Capital Projects Fund Encumbrances Outstanding Construction Expenditures Encumbrances Contracts Payable Governmental Activities Construction Work in Progress Contracts Payable Ip. Public works employees installed a new sidewalk and landscaping at a total cost of $100.000 | P Debt Service fund No Journal Entry Required Capital Projects Fund Construction Expenditures 100,000 Cash 100,000 Governmental Activities Construction Work in Progress 100,000 Cash 100,000 q. The roof leak was repaired satisfactorily, and the city paid the final billing and all retainages. Debt Service fund No Journal Entry Required Capital Projects Fund Contracts Payable Contracts Payable-Retained Percentage Cash 120,000 Governmental Activities Contracts Payable Contracts Payable-Retained Percentage Cash 120,000 r. The April 1 debt service payments are made. Debt Service fund ExpendituresInterest ExpendituresPrinicpal Cash 60,000 400,000 460,000 Capital Projects No Journal Entry Required Fund Governmental Activities Premium on Bonds Payable Expenses Interest on Long-term debt Capital Projects Fund Contracts Payable Contracts PayableRetained Percentage Cash 120,000 Governmental Activities Contracts Payable Contracts Payable-Retained Percentage Cash 120,000 r. The April 1 debt service payments are made. Debt Service fund ExpendituresInterest ExpendituresPrinicpal Cash 60,000 400,000 460,000 Capital Projects Fund No Journal Entry Required Governmental Activities Premium on Bonds Payable Expenses Interest on Long-term debt Bonds Payable 400,000 Cash 460,000 s. The renovation is considered complete and appropriate amounts are reclassified as buildings and improvements other than buildings (i.e., landscaping). s(1) Debt Service fund Cash Other Financing SourcesInterfund Transfers In s(2) All capital projects fund nominal accounts are closed, and remaining cash in the capital projects fund is transferred to the debt service fund. (Remember to amend the debt service fund budget because this transfer was not anticipated.) Estimated Other Financing SourcesInterfund Transfers In Budgetary Fund Balance Capital Projects Fund Record the receipt for debt service payments. Fund Balance-Restricted Fund Balance-Assigned Construction Expenditures s(4) Record the transfer of capital project funds to the debt service fund. Other Financing UsesInterfund Transfers Out Cash s(5) Record the closing entry after transfer out. Fund Balance-Assigned Other Financing UsesInterfund Transfers Out s(6) Governmental Activities Record the closing entry and reclassify the appropriate amounts. Building Improvements other than Buildings Construction Work in Progress