Reporting reconciliation between fund and government-wide financial statements

Sai-Tu Village reported outstanding long-term bonds payable of $8,400,000 in the governmental activities column of its government-wide statement of net position for the year ended December 31, 2022. During 2023, Sai-Tu Village sold $700,000 of new general obligation bonds and repaid $420,000 of bonds outstanding at the beginning of the year. Certain journal entries were required before government-wide financial statements could be prepared. Complete the sections of the reconciliation of the governmental fund to government-wide financial statements related to those entries. Enter reductions as negative amounts.

Partial Reconciliation of Governmental Funds Balance Sheet to Government-wide Statement of Net Position Amounts reported in the statement of net position are different because: Bonds payable are in the current period and, therefore, in the funds. \$ Partial Reconciliation of Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to Government-Wide Statement of Activities Amounts reported in the Funds statement are different because: Bond proceeds provide current and debt repayments are expenditures in funds. Issuing debt liabilities (and repaying debt them) in the statement of net position. The amount by which exceeded in the current period is \$ \&