On July 1, 2019, the first day of its 2020 fiscal year, the Town of Bear Creek Issued at par $5,900,000 of 6 percent term bonds to renovate a historic wing of its main administrative building. The bonds mature In five years on July 1, 2024. Interest is payable semiannual y on January 1 and July1 As lustrated in the table below, a sinking fund is to be established with equal sem annual additions made on June 30 and December 31. Cash for the sinking fund additions and the semiannual Interest payments will be transferred from the General Fund shortly before the due dates. Investment earnings are added to the investment principal Fiscal Required Expected Ending Year Period Addition Earnings Balance 2020 1 514, 660 $ 2021 2022 2023 2024 0 $ 514, 660 2 514, 660 15,440 1,044,760 3514,660 31,343 1,590,763 4 514, 660 47,723 2,153, 145 5514, 660 64,594 2,732,400 6 514, 660 81,972 3,329, 032 7514, 660 99,871 3,943, 563 8 514, 660 118,307 4,576,530 9514, 660 137,296 5,228, 486 10 514,660 156,855 5,900,000 Required a-1 Prepare journal entries in the debt service fund for the fol lowing: (If no entry is required for a transaction/event select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) a. On July 1, 2019, record the budget for the fiscal year ended June 30, 2020. Include all interfund transfers to be received from the General Fund during the year. An for the interest should be provided only t due on 1, 2020 Term Bond Debt Service Fund b. On December 28, 2019, the General Fund transferred S691,660 to the debt service fund. The addition to the fund was immedia nvested in 6 t certificates of Term Bond Debt Service Fund b1 Record the transfer from the general fund to the debt service fund. b2 Record the investment in the certificates of c. On December 28, 2019, the city issued checks to bondholders for the interest payment due on January 1, 2020. Term Bond Debt Service Fund