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Prepare journal entries for the following related transactions in the debt service fund and the governmental-wide entity for a local government when necessary. The government

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Prepare journal entries for the following related transactions in the debt service fund and the governmental-wide entity for a local government when necessary. The government has a calendar year end. a. On Jan 1, 2019, a term bond issue was sold at par with coupon Interest rate of 10% to fund a capital project Cash in the face amount of the bonds $2,000,000, was deposited in the capital project fund Semiannual interest payments should be made on Jan) and Jul. 1 of each year (4 points) DSF G-W b. On July 1, 2019, the first semi-annual interest payment was paid to the bondholders (4 points) DSF G-W: c On Dec 31, 2019, accrue for interest to be made on Jan 1, 2020 necessary. (4 points) DSR G-W

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