I need held making a financial statement. Please prepare the Statement of Revenues, Expenditures and Changes in Fund Balance and Fund Balance Sheet.

Preparing journal entries for all transaction$-$related bonds:

$1$

Date

Account

Dr

Cr

Transfer from general fund

$$2,970,000$

Transfer from capital projects fund

$$1,000,000$

Transfer principal amount to General fund

$$500,000$

Revenue interest

$$30,000$

Appropriation interest

$$3,000,000$

Balance fund

$$1,500,000$

Explanation:

To create the budget, it is necessary to aggregate all the projected transfers from various funds and subtract the allocated interest, resulting in the available fund balance.

$2$

Date

Account

Dr

Cr

Cash

$$1,000,000$

Transfer from capital projects fund: non$-$reciprocal

$$1,000,000$

Date

Account

Dr

Cr

Bonds investment

$$977,254$

Cash

$$977,254$

Step $3$

Journal entries for all transaction$-$related bonds:

$3$

Date

Account

Dr

Cr

Cash

$$30,000$

Bonds investment

$$294$

Revenue interest

$$30,294$

Explanation:

The total interest is received interest for the first six months plus the corresponding increased market value.

$4$

Date

Account

Dr

Cr

Cash

$$3,470,000$

Transfer from general fund interest: non$-$reciprocal

$$2,970,000$

Transfer from general fund principal: non$-$reciprocal

$$500,000$

$5$

Date

Account

Dr

Cr

Interest expenses

$$3,000,000$

Cash

$$3,000,000$

Step $4$

a$.$ Preparing appropriate journal entries in the debt service fund, budgetary, and closing entries:

Date

Account

Dr

Cr

Appropriation interest

$$3,000,000$

Revenue interest

$$30,294$

Transfer from capital projects fund: non$-$reciprocal

$$1,000,000$

Transfer from general fund interest: non$-$reciprocal

$$2,970,000$

Transfer from general fund principal: non$-$reciprocal

$$500,000$

Transfer from general fund

$$2,970,000$

Transfer from capital projects fund

$$1,000,000$

Transfer principal amount to General fund

$$500,000$

Revenue interest

$$30,000$

Interest expenses

$$3,000,000$

Balance fund

$$294$