Yarrow County engaged in the following debt-related transactions during the year. Required: Assume that the county maintains its books and records in a manner that facilitates the preparation of its government-wide financial statements. Prepare journal entries to record these transactions. Clearly indicate if debt is long-term or short-term (current). If no entry is required, write "No entry required".

a) The county issued $10 million in 6 percent, 20-year bonds for $10,234,932 to yield 5.8 percent (2.9 percent per semiannual period) to the investor.

b) The county made the first semi-annual interest payment on the bonds in (a).

c) The county issued $3 million in 6 percent deman bonds for which it does not enter into a take-out agreement.

d) In anticipation of finally issuing $20 million in bonds that were approved by the voters several months ago, the county borrowed $20 million from a consortium of national banks due in six months. The county also entered into a financing agreement with the consortium to convert the debt to 10-year debt if long-term bonds were not sold sucessfully.

e) In anticipation of property tax revenues to be received several months after its fiscal its fiscal year-end, the county borrowed $2 million from a local bank payable in nine months.

f) They county leased a new machine for its county highway department in an arragement that qualified as a capital lease. The present value of the minimum lease payments is $250,000, which approximates the fair value of the machine.