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Required information [The following information applles to the questions displayed below] As of December 31, 2022, Sandy Beach had $9,500,000 in 3 percent serlal bonds outstanding. Cash of $509,000 is the debt service fund's only asset as of December 31,2022, and there are no liabilities. The serial bonds pay interest semiannually on January 1 and July 1 , with $500,000 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. equired 1. Prepare debt service fund and government-wide entries in general journal form to reflect, as necessary, the following informati and transactions for FY 2023, (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account fleld. Do not round Intermedlate calculations.) Required information 3. Property taxes in the amount of $1,020,000 were levied (no estimate for uncollectible accounts has been made) \begin{tabular}{|l|l|l|l|} \hline 3 & Serial Bond Debt Service Fund & \\ \hline & & \\ \hline & Governmental Activities & \\ \hline & & \\ \hline \end{tabular} 4. Property taxes in the amount of $1,019,000 were collected \begin{tabular}{|c|c|} \hline 4 & Serial Bond Debt Service Fund \\ \hline & \\ \hline & \\ \hline & Govemmental Activites \\ \hline & \\ \hline & \\ \hline \end{tabular} 5. Cash was received from the General Fund and checks wete witten and mailed for the July 1 principat and interest payments. \begin{tabular}{|c|l|l|l|} \hline 5a & Serial Bond Debt Service Fund & Record cash received fromi the general fund \\ \hline & & & \\ \hline & & & \\ \hline 5b & & & \\ \hline & & & \\ \hline & & & \\ \hline 5c & Govecord principal and interest paid & \\ \hline & & & \\ \hline \end{tabular} a-2. Prepare the closing entrles, (If no entry is required for a transection/event, select "No Journol Entry Required" In the first account fieid, Do not round intermediate calculations.)

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