Required information
The following information applies to the questions displayed below.
As of December Sandy Beach had $ in percent serial bonds outstanding. Cash of $ is
the debt service fund's only asset as of December and there are no liabilities. The serial bonds pay interest
semiannually on January and July with $ in bonds being retired on each interest payment date.
Resources for payment of interest are transferred from the General Fund, and the debt service fund levies property
taxes in an amount sufficient to cover principal payments.
Required
a Prepare debt service fund and governmentwide entries in general journal form to reflect, as necessary, the following informati
and transactions for FY If no entry is required for a transactionevent select No Journal Entry Required" in the first
account field. Do not round intermediate calculations.
