The Sailfish County authorized issuance of $$10,000,000,4$ percent regular serial bonds in $200$ for the

construction of a new library. The bonds mature in equal amounts beginning January $1,20$X$1,$ for $10$ years and

pay interest on January $1$ and July $1.$ The county is required to use all accrued interest and premiums to service

the debt. The funds to pay the interest will be transferred from the General fund. The county's fiscal year ends on

December $31.$

Part A Deliverable:

Submit Part A in an Excel spreadsheet. Label each section clearly based on the required components below.

Include computations in a table and show work.

Required:

The bonds were sold on January $1,20$X$0,$ at $101.$ Prepare journal entries needed to record issuance of the

bonds, including the entries in the debt service fund and any entries required in the governmental activities

general ledger at the government$-$wide level.

Prepare the budgetary entry for $20xO$ for the debt service fund to record the estimated interest payments

to be paid on July $1.$

Prepare the journal entry for the debt service fund to reflect the transfer of funds from the General Fund to

the debt service fund in anticipation of the interest payment due on July $1.$

Prepare the journal entries needed to record the interest payment made on July $1,$ including entries

required in the debt service fund and any entries required in the governmental activities general ledger at

the government$-$wide level. Assume straight line amortization is used for the premium.