$[$Para$.6-$a$-3]$ To permit payment of the $$37,500$ interest payments due on July $1,2023$ and January $1,2024,$ the Street Improvement Bond Debt Service Fund received $$38,750$ from the General Fund.

Required: Record the interfund transfer in the debt service fund journal only. This transaction was previously recorded in the General Fund in Chapter $4$ of this problem. The transaction has no effect at the government$-$wide level since it occurs between two governmental funds.

$[$Para$.6-$a$-4]$ The July $1,2023,$ interest payment was made in the amount of $$37,500.$

Required: Record the interest payment in both the debt service fund and the governmental activities general journals. Since Expense$$Interest on Long$-$Term Debt was credited for $$6,250$ in $5-$a$-2$ in the governmental activities general journal record the full July $1,2023$ interest payment as a debit to Interest Expense, less amortization of the premium. For the entry in the governmental activities journal, assume that the appropriate amount of amortization of the Premium on Deferred Serial Bonds Payable for the period the bonds have been outstanding $($February $1$ to July $1)$ is $$231.$ Although premiums and discounts on bonds issued are not amortized in a debt service fund, they should be amortized at the government$-$wide level since the accrual basis of accounting is used at that level.

$[$Para$.6-$a$-5]$ Accrue six months of interest payable on the $2\mathrm{.}5\%$ deferred serial bonds from the July $1$ interest payment until the end of the fiscal year, December $31,2023.$

Required: Make the required journal entry in the governmental activities general journal. For this entry, assume that the appropriate amount of amortization of the Premium on Deferred Serial Bonds Payable is $$233.$ Recall that interest is not accrued for the period July $1$ to December $31,2023$ in the debt service fund as no appropriation exists for this expenditure and the interest is not due this fiscal year.