This year Southfork began work on a senior center to hold activibes for its growing senior citizen population it is to be financed by a $5,000,000 bond issue, a $500,000 grant, and a $500,000 General Fund transfer. The following transoctions occurred during the current year: 1. The General Fund transferred $500,000 to the Senior Center Capital Projects Fund 2. A plot of land was purchased for $400.000 in cash. (This cost had not been encumbered) 3. Preliminary planning and engineering costs of $95,000 were vouchered. (This cost had not been encumbered) 4. A contract was signed with Sunset Construction Company for the major part of the project on a bid of $4,950,000 5. The $5,000,000 bonds were issued at par. 6. Temporary imvestments were purchased at a cost of $3.500.000 7. A payable was recorded for a $49,500 biling from the Water and Sewer enterplise fund for the cost of extending water pipes to the new buiding. (This cost had not been encumbered) 8. An invoice in the amount of $1,500,000 was received from Sunset Construction Company for progress to date on the project. 9. The amount billed by the contractor less 5 percent retainage was poid. 10. Half of the planning and engineering costs and $25.000 of the water and sewer biling were paid 11. Grant revenue of $100,000 was recelved in cash for construction expenditures that were considered allowable costs in accordance with the grant agreement 12. Closing entries were prepared as of year-end. Assume that $2.500.000 of the encumbrances outstanding will be paid from the bond proceeds and are therefore considered restricted resources. The remaining fund balance is assigned. Required a. Prepare joumal entries to record the preceding information in the general ledger accounts for the Senior Center Capital Projects Fund Required a Prepare journal entries to record the preceding information in the general ledger accounts for the Senior Center Capital Projects Fund b. Prepure a statement of revenues, expenditures, and changes in fund balances for the period c Prepare a balance sheet for the Senior Center Capital Projects Fund as of year-end Prepare a balance shoot for the Senior Center Capital Projects fund as of year-end. Prepare joumal entries to record the preceding information in the general ledger accounts for the Senior Center Capital Projects Fund. (If no entry is required for a transaction/event, silect "No Journal Entry Required" in the first account field.) 4. Record the contract signing for the major part of the project on a bid of 54,950,000. 5. Record the $5,000,000 issue of bonds at par 6. Record the purchase of $3,500,000 temporary investments. 7. Record the $49,500 payable for extending water pipes to the new building. 8. Record the recelpt of $1,500,000 invoice for progress to date on the project. 8. Record the receipt of $1,500,000 invoice for progress to date on the project. \begin{tabular}{|c|cc|c|c|} \hline 8. Record the receipt of $1,500,000 invoice for progress to date on the project \\ \hline & & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} 9. Record the payment of amount billed by the contractor less 5 percent retainage. 11. Record the receipt of Grant revenue of $100,000 for construction expenditures in line with the grant agreement 10. Record the payment of half of planning and engineering costs and $25,000 of the water and sewer billing. \begin{tabular}{|l|l|l|} \hline 10 & & \\ \hline & & \\ \hline 11. Record the receipt of Grant revenue of $100,000 for construction expenditures in line with the grant \\ \hline \end{tabular} agreement Required B> Prepare a statement of revenues, expenditures, and changes in fund balances for the period