Residents from the Town of Mountain View authorized a $2,700,000 renovation to their historic town hall on November 15, 2019. Financing for the project consists of $1,400,000 from a 4 percent serial bond issue, $800,000 from a state grant, and $500,000 from the General Fund. Debt service for the serial bonds will be provided by a one-quarter-cent city sales tax imposed on every dollar of sales in the city. The town has a calendar year-end.

Required: Prepare journal entries to record the related transactions in the towns capital projects fund, debt service fund, and governmental activities at the government-wide level. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

*NOTE* I only need the last three parts (Q, R, S) answered. I have provided the other parts so it is easier to solve the last 3.

a. Record the 2020 budget for the Serial Debt Service Fund. 210,000 of sales taxes are expected to be collected in 2020; the only appropriation is expected to be six months of interest on the serial bond.

b. The town transfers 500,000 from the General Fund to a newly established capital projects fund

c. Planning and architect's fees for the town hall renovation are paid in the amount of 260,000

d. the town hall renovation construction is awarded to a local contractor, Central Paving and Construction, for 2,187,000

e. On April 1, 2020, the town issues serial bonds with a face value totaling 1,400,000 and having maturities ranging from one to 20 years at 102. The bonds bear interest of 4% per annum, payable semiannually on April 1 and October 1.

f. The capital projects fund paid the city's utility fund 50,000 for wiring associated with the renovation. No encumbrance had been recorded for this service.

g. On October 1, 2020, the city mailed checks to bondholders for semiannual interest on the bonds.

h. Sales taxes earmarked for debt service of 210,000 were collected

i. Central Paving and Construction submitted a progress billing to the town for 1,400,000. The City's public works inspector agrees that all milestones have been met for this portion of the work.

j. The town paid Central Paving and Construction the amount it had billed, except for 4% that was withheld as a retained percentage per terms of the contracts.

k. Grant funds totaling 800,000 are received from the state historical society since eligible expenditures have been made.

l. At year-end closing entries are made; 500,000 of the fund balance is assigned, and the remainder is restricted.

m. Record the 2021 budget for the Serial Debt Service Fund; 190,000 of earmarked sales taxes are expected to be collected in 2021; appropriations include a 140,000 principal payment on April 1 and two serial bond interest payments.

n. Sales tax collections for debt service amounted to 140,000

o. Central Paving and Construction submitted a final billing to the town for 700,000. Upon final inspection by the Public Works Department, a leak was discovered in the roof.

p. Public works employees installed a new sidewalk and landscaping at a total cost of 130,000

q. The roof leak was repaired satisfactorily, and the city paid the final billing and all retainages.

r. The April 1 debt service payments are made.

s. The renovation is considered complete and appropriate amounts are reclassified as buildings and improvements other than buildings.

*Again I only need the last three answered (the ones that are bolded)

I received a comment stating that more information was needed but I am not able to reply to it so I will post this here. This is the full question and all of the information that was provided to me. What further information is needed?

Transaction Fund General Journal Debit Credit a. Record the 2020 budget for the Serial Debt Service Fund. Sales taxes of $210,000 are expected to be collected in 2020, the only appropriation is expected to be six months of interest on the serial bond. a Debt Service fund Estimated Revenues 210,000 Appropriations 28,000 Budgetary Fund Balance 182,000 Capital Projects Fund No Journal Entry Required Governmental Activities No Journal Entry Required b. The town transfers $500,000 from the General Fund to a newly established capital projects fund. b Debt Service fund No Journal Entry Required Capital Projects Fund 500,000 Cash Other Financing Sources-Interfund Transfers In 500,000 Governmental Activities No Journal Entry Required C. Planning and architect's fees for the town hall renovation are paid in the amount of $260,000 C Debt Service fund No Journal Entry Required Capital Projects Fund 260,000 Construction Expenditures Cash 260,000 260,000 Governmental Activities Construction Work in Progress Cash 260,000 d. The town hall renovation construction contract is awarded to a local contractor, Central Paving and Construction, for $2,187,000. d Debt Service fund No Journal Entry Required Capital Projects Fund Encumbrances 2,187,000 Encumbrances Outstanding 2,187,000 Governmental Activities No Journal Entry Required e. On April 1, 2020, the town issues serial bonds with a face value totaling $1,400,000 and having maturities ranging from one to 20 years at 102. The bonds bear interest of 4 percent per annum, payable semiannually on April 1 and October 1. e(1) Debt Service fund Record the issue of bonds in the Debt Service Fund Cash 28,000 Other Financing Sources-Premium on Bonds Payable 28,000 Premiums on bonds issued must be deposited directly in the debt service fund and are restricted for debt service. (Remember to amend the debt service fund budget because this premium was not anticipated.) Estimated Other Financing SourcesPremium on Bonds 28,000 Budgetary Fund Balance 28,000 e(3) Capital Projects Fund Premiums are amortized using the straight-line method over 40 interest periods. Record the issue of bonds. Cash | 1,400,000 Other Financing Sources-Proceeds of Bonds 1,400,000 e(4) Governmental Activities Record the issue of bonds. Cash 1,428,000 Premium on Bonds Payable Bonds Payable 28,000 1,400,000 f. The capital projects fund paid the city's Utility Fund $50,000 for wiring associated with the renovation. No encumbrance had been recorded for this service. Debt Service fund No Journal Entry Required Capital Projects Fund 50,000 Construction Expenditures Cash 50,000 50,000 Governmental Activities Construction Work in Progress Cash 50,000 g. On October 1, 2020, the city mailed checks to bondholders for semiannual interest on the bonds. Debt Service fund Expenditures Interest -Interest 28,000 Cash 28,000 Capital Projects Fund No Journal Entry Required 700 Governmental Activities Premium on Bonds Payable Expenses-Interest on Long-term debt Cash 27,300 28,000 h. Sales taxes earmarked for debt service of $210,000 were collected. Debt Service fund Cash Revenues 210,000 210,000 Capital Projects Fund No Journal Entry Required 210,000 Governmental Activities Cash General Revenues-Taxes 210,000 i. Central Paving and Construction submitted a progress billing to the town for $1,400,000. The city's public works inspector agrees that all milestones have been met for this portion of the work. Debt Service fund No Journal Entry Required Capital Projects Fund Record the reversal of encumbrances for the progress to date on the project and also the construction expenditure for the invoice received. Encumbrances Outstanding 1,400,000 Construction Expenditures 1,400,000 Encumbrances 1,400,000 Contracts Payable 1,400,000 1,400,000 Governmental Activities Construction Work in Progress Contracts Payable 1,400,000 j. The town paid Central Paving and Construction the amount it had billed, except for 4 percent that was withheld as a retained percentage per terms of the contract. Debt Service fund No Journal Entry Required Capital Projects Fund 1,400,000 Contracts Payable Contracts Payable-Retained Percentage Cash 56,000 1,344,000 1,400,000 Governmental Activities Contracts Payable Contracts Payable-Retained Percentage Cash 56,000 1,344,000 k. Grant funds totaling $800,000 are received from the state historical society because eligible expenditures have been made. Debt Service fund No Journal Entry Required Capital Projects Fund 800,000 Cash Revenues 800,000 800,000 Governmental Activities Cash Program Revenue-General Government 800,000 1. At year-end, closing entries are made; In the capital projects fund, $500,000 of the fund balance is assigned, and the remainder is restricted. (1) Debt Service fund Appropriations 28,000 Budgetary Fund Balance 210,000 Estimated Revenues 210,000 Estimated Other Financing Sources-Premium on Bonds 28,000 Record the entry to close the operating statement account in the Debt Service Fund. Revenues 210,000 Other Financing Sources-Premium on Bonds Payable 28,000 Expenditures Interest Fund Balance-Restricted 28,000 210,000 |(3) Capital Projects Fund Record the entry to close the budgetary statement account in the Capital Projects Fund. Revenues 800,000 Other Financing Sources-Interfund Transfers In 500,000 Other Financing Sources-Proceeds of Bonds 1,400,000 Construction Expenditures Fund Balance-Restricted Fund Balance-Assigned 500,000 m. Record the 2021 budget for the Serial Debt Service Fund; $190,000 of earmarked sales taxes are expected to be collected in 2021; appropriations include a $140,000 principal payment on April 1 and two serial bond interest payments. Debt Service fund Estimated Revenues 190,000 Budgetary Fund Balance 3,200 Appropriations 193,200 Capital Projects Fund No Journal Entry Required Governmental Activities No Journal Entry Required n. Sales tax collections for debt service amounted to $140,000. Debt Service fund Cash Revenues n 140,000 140,000 Capital Projects Fund No Journal Entry Required 140,000 Governmental Activities Cash General Revenues-Taxes 140,000 0. Central Paving and Construction submitted a final billing to the town for $700,000. Upon final inspection by the Public Works Department, a leak was discovered in the roof. Debt Service fund No Journal Entry Required Capital Projects Fund Record the reversal of encumbrances for the progress to date on the project and also the construction expenditure for the invoice received. (Encumbrances Outstanding 700,000 Construction Expenditures 700,000 Encumbrances 700,000 Contracts Payable 700,000 Governmental Activities Construction Work in Progress 700,000 Contracts Payable 700,000 p. Public works employees installed a new sidewalk and landscaping at a total cost of $130,000 Debt Service fund No Journal Entry Required Capital Projects Fund 130,000 Construction Expenditures Cash 130,000 130,000 Governmental Activities Construction Work in Progress Cash 130,000 9. The roof leak was repaired satisfactorily, and the city paid the final billing and all retainages. Debt Service fund No Journal Entry Required Capital Projects Fund Contracts Payable Contracts Payable-Retained Percentage Cash 700,000 43,750 743,750 Governmental Activities Contracts Payable Contracts Payable-Retained Percentage Cash 700,000 43,750 743,750 1. The April 1 debt service payments are made. Debt Service fund Expenditures Interest Expenditures-Prinicpal Cash 28,000 140,000 168,000 Capital Projects Fund No Journal Entry Required Governmental Activities Premium on Bonds Payable Interest Payable Bonds Payable Cash 140,000 168,000 s. The renovation is considered complete and appropriate amounts are reclassified as buildings and improvements other than buildings (i.e., landscaping) s(1) Debt Service fund Cash Estimated Other Financing Sources-Interfund Transfers In s(2) All capital projects fund nominal accounts are closed, and remaining cash in the capital projects fund is transferred to the debt service fund. (Remember to amend the debt service fund budget because this transfer was not anticipated.) Estimated Other Financing Sources-Interfund Transfers In Budgetary Fund Balance s(3) Capital Projects Fund Record the receipt for debt service payments. Fund Balance-Restricted Fund Balance-Assigned Construction Expenditures s(4) Record the transfer of capital project funds to the debt service fund. Other Financing Uses-Interfund Transfers Out Cash s(5) Record the closing entry after transfer out. Fund Balance-Assigned Other Financing Uses-Interfund Transfers Out s(6) Governmental Activities Record the closing entry and reclassify the appropriate amounts. Building Improvements other than Buildings 130,000 Transaction Fund General Journal Debit Credit a. Record the 2020 budget for the Serial Debt Service Fund. Sales taxes of $210,000 are expected to be collected in 2020, the only appropriation is expected to be six months of interest on the serial bond. a Debt Service fund Estimated Revenues 210,000 Appropriations 28,000 Budgetary Fund Balance 182,000 Capital Projects Fund No Journal Entry Required Governmental Activities No Journal Entry Required b. The town transfers $500,000 from the General Fund to a newly established capital projects fund. b Debt Service fund No Journal Entry Required Capital Projects Fund 500,000 Cash Other Financing Sources-Interfund Transfers In 500,000 Governmental Activities No Journal Entry Required C. Planning and architect's fees for the town hall renovation are paid in the amount of $260,000 C Debt Service fund No Journal Entry Required Capital Projects Fund 260,000 Construction Expenditures Cash 260,000 260,000 Governmental Activities Construction Work in Progress Cash 260,000 d. The town hall renovation construction contract is awarded to a local contractor, Central Paving and Construction, for $2,187,000. d Debt Service fund No Journal Entry Required Capital Projects Fund Encumbrances 2,187,000 Encumbrances Outstanding 2,187,000 Governmental Activities No Journal Entry Required e. On April 1, 2020, the town issues serial bonds with a face value totaling $1,400,000 and having maturities ranging from one to 20 years at 102. The bonds bear interest of 4 percent per annum, payable semiannually on April 1 and October 1. e(1) Debt Service fund Record the issue of bonds in the Debt Service Fund Cash 28,000 Other Financing Sources-Premium on Bonds Payable 28,000 Premiums on bonds issued must be deposited directly in the debt service fund and are restricted for debt service. (Remember to amend the debt service fund budget because this premium was not anticipated.) Estimated Other Financing SourcesPremium on Bonds 28,000 Budgetary Fund Balance 28,000 e(3) Capital Projects Fund Premiums are amortized using the straight-line method over 40 interest periods. Record the issue of bonds. Cash | 1,400,000 Other Financing Sources-Proceeds of Bonds 1,400,000 e(4) Governmental Activities Record the issue of bonds. Cash 1,428,000 Premium on Bonds Payable Bonds Payable 28,000 1,400,000 f. The capital projects fund paid the city's Utility Fund $50,000 for wiring associated with the renovation. No encumbrance had been recorded for this service. Debt Service fund No Journal Entry Required Capital Projects Fund 50,000 Construction Expenditures Cash 50,000 50,000 Governmental Activities Construction Work in Progress Cash 50,000 g. On October 1, 2020, the city mailed checks to bondholders for semiannual interest on the bonds. Debt Service fund Expenditures Interest -Interest 28,000 Cash 28,000 Capital Projects Fund No Journal Entry Required 700 Governmental Activities Premium on Bonds Payable Expenses-Interest on Long-term debt Cash 27,300 28,000 h. Sales taxes earmarked for debt service of $210,000 were collected. Debt Service fund Cash Revenues 210,000 210,000 Capital Projects Fund No Journal Entry Required 210,000 Governmental Activities Cash General Revenues-Taxes 210,000 i. Central Paving and Construction submitted a progress billing to the town for $1,400,000. The city's public works inspector agrees that all milestones have been met for this portion of the work. Debt Service fund No Journal Entry Required Capital Projects Fund Record the reversal of encumbrances for the progress to date on the project and also the construction expenditure for the invoice received. Encumbrances Outstanding 1,400,000 Construction Expenditures 1,400,000 Encumbrances 1,400,000 Contracts Payable 1,400,000 1,400,000 Governmental Activities Construction Work in Progress Contracts Payable 1,400,000 j. The town paid Central Paving and Construction the amount it had billed, except for 4 percent that was withheld as a retained percentage per terms of the contract. Debt Service fund No Journal Entry Required Capital Projects Fund 1,400,000 Contracts Payable Contracts Payable-Retained Percentage Cash 56,000 1,344,000 1,400,000 Governmental Activities Contracts Payable Contracts Payable-Retained Percentage Cash 56,000 1,344,000 k. Grant funds totaling $800,000 are received from the state historical society because eligible expenditures have been made. Debt Service fund No Journal Entry Required Capital Projects Fund 800,000 Cash Revenues 800,000 800,000 Governmental Activities Cash Program Revenue-General Government 800,000 1. At year-end, closing entries are made; In the capital projects fund, $500,000 of the fund balance is assigned, and the remainder is restricted. (1) Debt Service fund Appropriations 28,000 Budgetary Fund Balance 210,000 Estimated Revenues 210,000 Estimated Other Financing Sources-Premium on Bonds 28,000 Record the entry to close the operating statement account in the Debt Service Fund. Revenues 210,000 Other Financing Sources-Premium on Bonds Payable 28,000 Expenditures Interest Fund Balance-Restricted 28,000 210,000 |(3) Capital Projects Fund Record the entry to close the budgetary statement account in the Capital Projects Fund. Revenues 800,000 Other Financing Sources-Interfund Transfers In 500,000 Other Financing Sources-Proceeds of Bonds 1,400,000 Construction Expenditures Fund Balance-Restricted Fund Balance-Assigned 500,000 m. Record the 2021 budget for the Serial Debt Service Fund; $190,000 of earmarked sales taxes are expected to be collected in 2021; appropriations include a $140,000 principal payment on April 1 and two serial bond interest payments. Debt Service fund Estimated Revenues 190,000 Budgetary Fund Balance 3,200 Appropriations 193,200 Capital Projects Fund No Journal Entry Required Governmental Activities No Journal Entry Required n. Sales tax collections for debt service amounted to $140,000. Debt Service fund Cash Revenues n 140,000 140,000 Capital Projects Fund No Journal Entry Required 140,000 Governmental Activities Cash General Revenues-Taxes 140,000 0. Central Paving and Construction submitted a final billing to the town for $700,000. Upon final inspection by the Public Works Department, a leak was discovered in the roof. Debt Service fund No Journal Entry Required Capital Projects Fund Record the reversal of encumbrances for the progress to date on the project and also the construction expenditure for the invoice received. (Encumbrances Outstanding 700,000 Construction Expenditures 700,000 Encumbrances 700,000 Contracts Payable 700,000 Governmental Activities Construction Work in Progress 700,000 Contracts Payable 700,000 p. Public works employees installed a new sidewalk and landscaping at a total cost of $130,000 Debt Service fund No Journal Entry Required Capital Projects Fund 130,000 Construction Expenditures Cash 130,000 130,000 Governmental Activities Construction Work in Progress Cash 130,000 9. The roof leak was repaired satisfactorily, and the city paid the final billing and all retainages. Debt Service fund No Journal Entry Required Capital Projects Fund Contracts Payable Contracts Payable-Retained Percentage Cash 700,000 43,750 743,750 Governmental Activities Contracts Payable Contracts Payable-Retained Percentage Cash 700,000 43,750 743,750 1. The April 1 debt service payments are made. Debt Service fund Expenditures Interest Expenditures-Prinicpal Cash 28,000 140,000 168,000 Capital Projects Fund No Journal Entry Required Governmental Activities Premium on Bonds Payable Interest Payable Bonds Payable Cash 140,000 168,000 s. The renovation is considered complete and appropriate amounts are reclassified as buildings and improvements other than buildings (i.e., landscaping) s(1) Debt Service fund Cash Estimated Other Financing Sources-Interfund Transfers In s(2) All capital projects fund nominal accounts are closed, and remaining cash in the capital projects fund is transferred to the debt service fund. (Remember to amend the debt service fund budget because this transfer was not anticipated.) Estimated Other Financing Sources-Interfund Transfers In Budgetary Fund Balance s(3) Capital Projects Fund Record the receipt for debt service payments. Fund Balance-Restricted Fund Balance-Assigned Construction Expenditures s(4) Record the transfer of capital project funds to the debt service fund. Other Financing Uses-Interfund Transfers Out Cash s(5) Record the closing entry after transfer out. Fund Balance-Assigned Other Financing Uses-Interfund Transfers Out s(6) Governmental Activities Record the closing entry and reclassify the appropriate amounts. Building Improvements other than Buildings 130,000