Prepare the entries required to record the following transactions in an Enterprise Fund

1. Received a grant (in cash) to be used to finance half of the cost of expanding the town's water treatment plant, $10

million. All eligibility requirements have been met.

1. Received a transfer from the General Fund to cover part of the cost of expanding the treatment plant, $5 million.
2. Issued bonds at mid-year at par ($5,000,000) to provide part of the financing for the treatment plant expansion. The bonds bear interest at 6%, payable semiannually.
3. Signed a contract for construction of the plant, $20 million.
4. Received a progress billing from the contractor, $8 million.
5. Paid the contractor all but a retention of 5 %
6. Make any necessary adjusting entries.