Reconciliations to yield government-wide financial statements (bond liability) The Village of Magnolia is preparing its government-wide financial statements from its fund financial statements. The Village records an outstanding Bond Liability with a book value of $10,000 (all numbers in $1,000s) at the beginning of the year that requires a principal payment of $500 per year. Its records also indicate that it borrowed $3,000 on new Bonds during the year. What two reconciliation entries must the village include in its government-wide financial statements relating to its Bond Liability? Reconciliation Spreadsheet Description Debit Credit 0 0 Record bond liability for government-wide financial statement presentation 0 0 O Bonds payable 0 0 0 Please answer all parts of the