The City of McNeely sold bonds in the amount of $25,000,000 to finance the construction of a public health center. The bonds are serial bonds and were sold at par on July 1, 2017 the first day of a fiscal year. Shortly thereafter a construction contract in the amount of $22,000,000 was signed and the contractor commenced work. By year-end the contractor had been paid in full for all billings to date amounting to $12,000,000. Prepare, in general journal form, all journal entries that should have been made during the fiscal year ended June 30, 2018 to record the preceding information in the capital projects fund. (No closing entry is required).