Moore County is developing a new all-sports county park. The estimated cost of the project is $15,000,000 Funding is being provided for the project based on the following schedule:

General Obligation Bonds, 8%, 30-year serial bonds.............................. 9,000,000

State capital grant (expenditure driven).................................................. 4,500,000

County resources (transfers from the General Fund)............................... 1,500,000

Total resources..................................................................................... 15,000,000

Transactions:

(Budgetary entries not required)

1. The bonds were issued for $9,000,000 and a premium of $360,000 with $20,000 in bond issue costs.

2. The funding from the General Fund was received.

3. The county purchased land for the project paying $2,000,000 in cash.

4. The state paid the amount owed of $4,5000,000.

5. The county was billed for Construction costs of the project of $15,000,000. The county paid the billing.

Requirements:

Prepare all the entries required in the Park Capital Projects Fund for Moore County for these transactions and events. No explanations are required. If no entry is required, state No entry required and state why.