Residents of the town of Sunny View, Arizona authorized a $5,000,000 renovation to their historic town hall on November 15,2022 . Financing for the project consists of $2,500,000 from a 5 percent serial bond issue, $1,500,000 from a state grant, and $1,000,000 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. Required: Prepare all necessary journal entries to record the related transactions in the town's capital projects fund, debt service fund, and governmental activities at the government-wide level. You may ignore entries in the General Fund. The town has a calendar year-end. e. On April 1, 2023, the town issues serial bonds with a face value totaling $2,500,000 and having maturities ranging from one to 20 years at 102 . The bonds bear interest of 5 percent per annum, payable semiannually on April 1 and October 1. 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.) Premiums are amortized using the straight-line method over 40 interest periods. f. The capital projects fund paid the city's Utility Fund $50,000 for wiring associated with the renovation. No encumbrance has been recorded for this service. g. On October 1, 2023, the city mailed checks to bondholders for semiannual interest on the bonds