The Village of Harris Issued $5,000,000 in 6% general obligation, tax supported bonds on July 1, 2011, at 101. A fiscal agent is not used. Resources for principal and interest payments are to come from the General Fund. Interest payment dates are December 31 and June 30. The first of 20 annual principal payments is to be made June 30, 2012. Harris has a Calendar fiscal year. Complete or following journal entries for the year:
a) Capital projects fund transferred the prepium ($50,000) to the debt service fund
b)On December 31, 2011, funds in the amount of $150,000 were received from the General Fund and the first interest payment was made.
c)The books were closed for 2011
d) On June 30, 2012, funds in the amount of $350,000 were received from the General Fund, and the second interest payment (150,000) was made along with the first principal payment ($250,000).
e) On December 31, 2012, funds in the amount of $142,500 were received from the General Fund and the third interest payment was made ($142,500).