Taxes assessed to service the debt Transfer from the General Fund (and/or other funds) Income from Investment of resources All ofthe above 01.59.03? None of the above Part II: Exercises A. Consider the following transactions and answer on the space provided based on the instruction. Adam town is constructing municipal complex that is financed by Br. 10.000.000 par value term bond issued at Br. 10,250,000 at the beginning of the current year. Any premium is appropriated for Debt service fund. The construction is accounted for in capital project fund. After six months, capital project fund has transferred the amount of premium on bonds issued to Debt service fund. Records show that costs incurred in the current year for construction amounted to Br. 4,200,000. The project is expected to complete after a year. Instructions i. Identify the funds affected by the forgoing transactions and prepare the necessary entries in these funds. ii. Identify the account group(s) affected by the foregoing transactions and prepare the necessary entries in them. B. The town of Fiche has acquired land and building for cash at Br. 120,000 and Br. 130,000 respectively from its general fund revenues. Prepare the necessary entries in: iii. Generalfund iv. General Fixed Asset Account Group C. Bahir Dar town issued a Br. 20,000, 5 years, 8% term bonds at the beginning of this yearto finance the construction of Road. The repayment scheme of these bonds shows that Br. 4000 be transferred per year to Debt service fund from General Fund to be accumulated for the payment of the bonds at the end of the 5th year. As a result, the annual operating transfer was made to debt service fund at the end of the current year, Current Expenditures by CPF amounted to Br. 5000, paid in cash. Prepare the necessary entries for the current year in: D El Mobile View Editon F'C SChOOlTOOlS i. General Fund