Required information [The following information applies to the questions displayed below.] As of December 31, 2022, Sandy Beach had $9,700,000 in 5.5 percent serial bonds outstanding. Cash of $499,000 is the debt service fund's only asset as of December 31, 2022, and there are no liabilities. The serial bonds pay interest semiannually on January 1 and July 1 , with $500,000 in bonds being retired on each interest payment date. Resources for payment of interest are transferred from the General Fund, and the debt service fund levies property taxes in an amount sufficient to cover principal payments. equired -1. Prepare debt service fund and government-wide entries in general journal form to reflect, as necessary, the following informatic and transactions for FY 2023. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) 3. Property taxes in the amount of $1,010,000 were levied (no estimate for uncollectible accounts has been made). \begin{tabular}{|l|l|r|} 3 & Serial Bond Debt Service Fund \\ & & \\ & Governmental Activities \\ & & \\ & & \\ \hline \end{tabular} 4. Property taxes in the amount of $1,006,000 were collected. \begin{tabular}{|l|l|l|l|l|l|} \hline 4 & Serial Bond Debt Service Fund & & & & \\ \hline & & & & & \\ \hline & Governmental Activities & & & & \\ \hline & & & & & \\ \hline \end{tabular} 5. Cash was received from the General Fund and checks were written and mailed for the July 1 principal and interest payments. -2. Prepare the closing entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)