Answer:
See explaination
Explanation:
1.
--Capital projects fund journal
Dr. Cash $2,000,000
Cr. Other Financing Source—Proceeds of Bonds $2,000,000
--Governmental activities journal
Dr. Cash $2,000,000
Cr. Bonds Payable $2,000,000
2.
--Debt service fund journal
Dr. Estimated Other Financing Sources—Inter fund Transfers In $ 30,000
Cr. Appropriations $ 30,000
--General Fund journal
Dr. Budgetary Fund Balance $ 30,000
Cr. Estimated Other Financing Uses—Inter fund Transfers Out $ 30,000
3.
--Capital projects fund journal
Dr. Investments $1,000,000
Cr. Cash $1,000,000
--Governmental activities journal
Dr. Investments $1,000,000
Cr. Cash $1,000,000
4.
4.
--General Fund journal
Dr. Other Financing Uses—Inter fund Transfer out $ 30,000
Cr. Cash $ 30,000
--Debt service fund journal
a) Dr. Cash $ 30,000
Cr. Other Financing Sources—Inter fund Transfer In $ 30,000
b) Dr. Expenditures—Interest $ 30,000
Cr. Cash $ 30,000
--Governmental activities journal
Dr. Expenses—Interest on Long-term Debt $ 30,000
Cr. Cash $ 30,000
5.
--Capital projects fund
Dr. Interest Receivable $ 11,555
Cr. Revenues—(optional to put source, Interest) $ 11,555
--Governmental activities journal
a) Dr. Interest Receivable $ 11,555
Cr. General Revenues—Investment Earnings—(optional to indicate restriction, Restricted for Capital Projects) $ 11,555
b) Expenses—Interest on Long-term Debt $ 30,000
Interest Payable $ 30,000
Debt service fund
Note that there is no accrual of interest expenditure since the expenditure is not legally due until after the first of the year.
