Newport Village was recently incorporated and began financial operations on January 1, 20X8, the beginning of its fiscal year. The following transactions occurred during this first fiscal year, January 1, 20X8, to December 31, 20X8 (no budget entries necessary):

The village decided to construct a small recreation facility at a cost of $100,000. Bonds in the amount of $100,000 were issued at 101 on April 1, 20X8, with interest payable every 6 months 10/1 and 4/1, at 10% annual rate. The premium is restricted for payment of the bonds. Just the event(s) on 4/1/20X8.

A contract for $95,000 was signed for the construction of the facility. The capital projects fund was encumbered for the contract. In addition $3,000 was spent for architectural plans for the facility that was not part of the contract (and was not needed to be encumbered).

During the year, the general government paid $5,000 for services from the city motor pool (an internal service fund).

Interest on the bonds was properly accounted for during the year.

Required

Prepare journal entries to record each of these transactions in the appropriate fund or funds of Newport Village for the fiscal year ended December 31, 20X8. Show entries, and be sure to show the FUND and the entry