The City of Waterman established a capital projects fund for the construction of an access ramp from the parking garage to the citys office building to be used by individuals with disabilities. The estimated cost of the ramp is $200,000. On January 1, 20X2, a 10 percent, $150,000 bond issue was sold at 104.0 with the premium transferred to the debt service fund. At that date, the county board provided a $50,000 grant. After a period of negotiation, the city council awarded a construction contract for $182,000 on April 5, 20X2. The ramp was completed on August 8, 20X2; its actual cost was $189,000. The city council approved payment of the total actual cost of $189,000. In addition to the $189,000, the ramp was carpeted with all-weather material at a cost of $5,500. On November 3, 20X2, the city council gave the final approval to pay for the ramp and the carpeting. After all bills were paid, the remaining fund balance was transferred to the debt service fund.

Required:

1. Prepare entries for the capital projects fund for 20X2.
   1. Record the receipt of the grant from the county.
   2. Record the sale of $150,000 bonds at 104 on 20X2.
   3. Record the transfer premium to the debt service fund.
   4. Record the entry for the construction contract awarded.
   5. Record the entry to assign funds to the contract.
   6. Record the entry to establish the contract payable for the walkway.
   7. Record the entry to establish vouchers payable for the added carpeting.
   8. Record the payment of the contract payable and vouchers payable.
   9. Record the entry to close the revenue and other financing sources accounts.
   10. Record the entry to close the expenditures and other financing uses accounts.
   11. Record the transfer of the remainder to the Debt Service Fund.
   12. Record the closing entry to transfer out against the unassigned fund balance.
2. Prepare a statement of revenues, expenditures, and changes in fund balance for the capital projects fund for 20X2.

\begin{tabular}{|l|l|} \hline \multicolumn{1}{|c|}{ PINE RIDGE } \\ \hline \multicolumn{1}{|c|}{ General Fund } \\ \hline Statement of Revenues, Expenditures, and Changes in Fund Balance \\ \hline Revenue: & \\ \hline & \\ \hline & \\ \hline Total revenued December 31, 20X2 & \\ \hline Expenditures: & \\ \hline & \\ \hline & \\ \hline Total expenditures & \\ \hline & \\ \hline Other financing sources (uses): & \\ \hline & \\ \hline & \\ \hline Fund balance, January 1,202 & \\ \hline Fund balance, December 31,202 & \\ \hline \end{tabular}