Prepare journal entries for the following transactions for both Capital Projects Fund and Government Activities.

Background: The Town of Brighton decides to build a fire station extension expected to cost $1,500,000. $300,000 of the cost will be contributed by other governments, and $1,200,000 will be financed by bond issuance.

1. The town council formally approves the $1,200,000 bond issue.

2. A contract in the amount of $1,455,000 is signed for certain work to be done by a private contractor.

3. On 6/15/2020, the general government issues at par bonds with par value of $1,200,000 and dated June 15, 2020. The proceeds of the bonds is immediately transferred to the capital projects fund.

4. The contractor submits a bill of $1,455,000 for work completed.

5. Inspection reveals only minor imperfections in the contractors performance, and on correction of these, the liability to the contractor is paid.