u \"0 J. u] I. u. Lvuvv "but uul vluu 1. \"ll.\" 1.:- \"lluuhllull On the advice of the city attorney, a City Jail Debt Service Fund is opened to account for debt service transactions related to the bond issue sold on January 1, 2017 (see Part 1). Required: 0. Open a general journal for the City Jail Debt Service Fund. Record the following transactions, as necessary. Control accounts are not necessary (1) The premium described in transaction 1 of Part 1 was received as a transfer from the capital projects fund. (2) Cash in the amount of $160,000 was received from the General Fund on June 30 and was transferred to the fiscal agent. (3) The fiscal agent reported that checks dated July 1 had been mailed to bondholders for interest due that day. (4) The transfer described in part C of Part 1 was received. (5) Cash in the amount of $360,000 was received from the General Fund on December 31 and transferred to the fiscal agent to be used for interest and principal payments due on January 1 (next fiscal year). The government elected to not accrue the interest at year-end. (6) $ 200,000 of the remaining cash on hand was invested. b. Post the entries to the City Jail Debt Service Fund ledger (t-accounts). C. Prepare and post an entry closing all nominal accounts to Fund Balance. Assume any remaining net resources are classified as Fund Balance Assigned for Debt Service. 5C. Part 4. Governmental Funds Financial Statements Required: (1. Prepare a Balance Sheet for the governmental funds for the City of Monroe as of December 31, 2017. Include the General Fund, the Street and Highway Fund (P4C), the City Hall Debt Service Fund, and the City Jail Debt Service Fund. Use the balances computed in 4-C for the General Fund and special revenue fund portions of this statement. I). Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balances for the governmental funds for the City of Monroe for the Year Ended December 31, 2017. Include the same funds as listed in requirement a plus the City Jail Construction Fund