P10-7 (Restricted Asset Accounting) McKenzie's Point issued $1,200,000 of 6%, 10-year serial bonds at par on July 1, 20X4. Interest is due semiannually on January 1 and July 1 each year. and one-tenth of the principal is due each July 1. The bond indenture requires that the pro- ceeds be accounted for in a separate fund and used to construct an addition to the mainte- nance building for the municipal airport, which is accounted for in an Enterprise Fund. Furthermore, the bond agreement requires McKenzie's Point to set aside airport revenues of