Residents from the Town of Mountain View authorized a $7,400,000 renovation to their historic town hall on November 15, 2016. Financing for the project consists of $2,800,000 from a 5 percent serial bond issue, $2,400,000 from a state grant, and $2,200,000 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.

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.)

Transaction	Fund	General Journal	Debit	Credit
l. At year-end, closing entries are made; $2,200,000 of fund balance is assigned, and the remainder is restricted.
l(1)	Debt Service fund
l(2)		Record the entry to close the operating statement account in the Debt Service Fund. (Ignore closing entries for governmental activities.)
l(3)	Capital Projects Fund	Record the entry to close the budgetary statement account in the Capital Projects Fund.
m. Record the 2018 budget for the Serial Debt Service Fund; $240,000 of earmarked sales taxes are expected to be collected in 2018; appropriations include a $280,000 principal payment on April 1 and two serial bond interest payments.
m	Debt Service fund
	Capital Projects Fund
	Governmental Activities
n. Sales tax collections for debt service amounted to $280,000.
n	Debt Service fund
	Capital Projects Fund
	Governmental Activities
o. Central Paving and Construction submitted a final billing to the town for $2,200,000. Upon final inspection by the Public Works Department, a leak was discovered in the roof.
o	Debt Service fund
	Capital Projects Fund
	Governmental Activities
p. Public works employees installed a new sidewalk and landscaping at a total cost of $140,000.
p	Debt Service fund
	Capital Projects Fund
	Governmental Activities
q. The roof leak was repaired satisfactorily, and the city paid the final billing and all retainages.
q	Debt Service fund
	Capital Projects Fund
	Governmental Activities
r. The April 1 debt service payments are made.
r	Debt Service fund
	Capital Projects Fund
	Governmental Activities
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
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, since this transfer was not anticipated.)
s(3)	Capital Projects Fund	Record the receipt for debt service payments.
s(4)		Record the transfer of capital project funds to the debt service fund.
s(5)		Record the closing entry after transfer out.
s(6)	Governmental Activities	Record the closing entry and reclassify the appropriate amounts.