The folowing transactions relate to the Gay of Midketon which has a fiscal year end of December 3 , The city adopts bodgels for the Generai Fund and the debt service fund. NOIE tor simplicty, and contrary to GASE standards, assume straighat tine amaithation for this problem. 1. The Cify of Middeten sells a 52,000,000,346,16 year general obligation bood issue on danuary 2 at par the bond pers anterest Bemiannualy on July 1 and January 2, wath the first principal paymeri scheduled for next year on Jarnuary 2 A city hatl anex muas be constructed with the bond proceeds. 2. Budgets are adtisted to account for the sale of the bond. The debt service fund budger should be adiasted fo accorivodate ine new tebit rsqe if the debt service fund does not hwe pifficient tesources to pay expendfures, the needed funds witl be provided by the Generaifund 3.On February 1, 51000,000 of the cash thom the sole of the bonts is invested tor one year at a rate of 126s Eaenings on the investment are avallable for construction of the city hall annes: 4. July 1 the first interest poyment is due 5. December 31 adjusting entries are prepared Required: For the five relaled tiansactions peovided. prepare alt necessary joumal entines for the allected funds arid at lite govemmental activities level. Cleary indicate the fund jaumal of the govecnment wide joumal in which the entry is behg recorded of no artry is required for a transoction/event, ielect "No Joumal Entry Required" in the firm aceount fieldj) 17. Racotd the inventmert of the bond proceuss it Cespital Frojecte fund. I. Fiecerd the invwstment of the bond procends in Goverrement al Artiyitieit fund. Necot d the inhment peyinent due in the Cenerat Funs! pecord the laterest paymert due in the becte Dervice furye