The Village of Hawksbill issued $4,000,000 in 5 percent general obligation, tax-supported bonds on July 1, 2016, at 101. A fiscal agent is not used. Resources for the principal and interest payments are to come from the General Fund. Interest payment dates are December 31 and June 30. The first of 20 annual principal payments is to be made June 30, 2017. Hawksbill has a calendar fiscal year.

1. A capital projects fund transferred the premium ( in the amount of $40,000) to the debt service fund.

2. On December 31, 2016, funds in the amount of $100,000 were received from the General Fund and the first interest payment was made.

3. The books were closed for 2016.

4. On June 30, 2017, funds in ithe amount of $260,000 were received from the General Fund, and the second interest payment ($100,000) was made along with the first principal payment ($200,000).

5. On December 31, 2017, funds in the amount of $95,000 were received from the General Fund and the third interest payment was made ( also ini the amount of $95,000)

6. The books were closed for 2017.

Prepare journal entries to record the events above in the debt service fund.