The Village of Kanga issued $5,900,000 of 5 percent general obligation, tax-supported bonds on July 1, 2019. at 101 in the Capital Projects Fund. Resources for 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, 2020. Kanga has a calendar fiscal year. The Bonds were issued by the Capital Projects fund and the premium was transferred to the debt service fund. (Show the entries in both the Capital Projects fund and the Debt Service fund for this) On December 31. 2019. funds in the amount of $147.500 were received from the General Fund and the first interest payment was made.

Prepare the journal entries,