Interest expense adjustments for government$-$wide financial statements

Mike Village sold $$1,000,000$ of general obligation bonds on October $1,2021,$ maturing at

the rate of $$100,000$ every $6$ months starting April $1,2022,$ and paying interest at the rate of $4$

percent per annum on the unpaid balance.

Use the above information to calculate the following:

c$)$ Prepare the journal entries needed to adjust the fund statements so government$-$wide statements

can be prepared.

If no entry is necessary, select $\text{'}$No debit $($or credit$)$ entry needed' in the account fields and

enter $0$ in the amount fields.