The following transaction refers to one of the Districts a. The District issues general obligation bonds in the amount of $900,000, receiving cash for the full-face amount of the bonds. The cash will be used to buy capital assets. b. The District buys a prefabricated building for $750, 000, using part of the bond proceeds. The building is delivered and the invoice for the building is approved. c. The invoice approved in b. is paid. d. The General Fund transfers cash of $55,000 to another fund in anticipation of the payment of the first installment of interest ($30,000) and principal ($25,000) on the debt. e. The first installment of debt service on bonds issued in a becomes due and payable. f. Debt service on the bonds issued in a. is paid

Required

Prepare entries to record the above transactions related to acquisition of capital assets by a district. Identify the fund(s) used. The District uses encumbrance accounting