P6-51. (Journal entries, financial statements, and closing entries for a Debt Service Fund) The following are a trial balance and several transactions that relate to Lewisville's Concert Hall Bond Fund: LEWISVILLE Debt Service Fund Concert Hall Bond Fund Trial Balance July 1, 2018 Debits Credits Cash Investments Restricted fund balance $ 60,000 40,000 $100,000 $100,000 $100,000 The following transactions took place between July 1, 2018 and June 30, 2019: 1. The city council of Lewisville adopted the budget for the Concert Hall Bond Fund for the fis- cal year. The estimated revenues totaled $100,000, the estimated other financing sources totaled $50,000, and the appropriations totaled $125,000. 2. The General Fund transferred $50,000 to the fund. 3. To provide additional resources to service the bond issue, a property tax was levied upon the citi- zens. The total levy was $100,000, of which $95,000 was expected to be collected. 4. Property taxes of $60,000 were collected. 5. Revenue received in cash from the investments totaled $1,000. 6. Property taxes of $30,000 were collected. 7. The fund liability of $37,500 for interest was recorded, and that amount of cash was transferred to the fiscal agent. 8. A fee of $500 was paid to the fiscal agent. 9. Investment revenue totaling $1,000 was received in cash. 10. The fund liabilities for interest in the amount of $37,500 and principal in the amount of $50,000 were recorded, and cash for the total amount was transferred to the fiscal agent. 11. Investment revenue of $500 was accrued. Use the preceding information to do the following: a. Prepare all the journal entries necessary to record the preceding transactions for the Concert Hall Bond Fund