$5-$C$.$ Part $.$ Capital Projects Fund TransactionsThe voters of the City of Monroe approved the issuance of tax$-$supported bonds in the faceamount of$$4,000,000$ for the costruction and euipping of a new City Tail Architects wereto be retained, and constrction was to be completed Hy ottide contractors Tn addition to thebond proceeds, a S$1\mathrm{.}335,000$ erant was expected from the state governmentRequiredChapter$5$a Opena general joumal for the City Jail Annex Construction Fund Record the fotfowingtransactions and piost to the se general ledger. Controf accounts are not necessary$()$ On January $1,2024,$ the total face arnount of t bearing an interest rate of $3$ercent was sold at a $$200\mathrm{.}000$ premium Principal amounts of $200000$ eachwill come due annally overa $20-$year period conmencing January $1,2021.$Interest pavment dates are July $1$ and January $1.$ The first interest payment willbe Juty l$,2024.$ The premium was transferred to the City Jail Debt Service$(2)$ The receivable from the state government was recorded$3)$Legal and engineering fees early in the project were paid in the amount ofSI$19\mathrm{.}000.$ This amount had not been encumbered.$(4)$ Architects were engaged at a fee of $$250,000.(5)$ Preliminary plans were approved, and the architects were paid $$50,000(20$percent of the fee$).(6)$ The complete plans and specifications were received from the architects andapproved. A liability in the amount of S$150,000$ to the architects was approvedand pao.naid$)$ Bids were received and opened in public session. After considerable discussionn City Council, the low bid from H Constr on Company n theostrutonHardn contra$(8)$ The contractor required partial payment of $$1,350,000.$ Payment was approvedand vouchered with the exception of a $5$ percent retainage$\mathrm{.}9)$ Cash in the full amount of the grant was received from the state government$(10)$ Furniture and equipment for the annex were ordered at a total cost of S$459,500.(11)$ Payment was made to the contactor for the amount payable $($see S above$)(12)$ The contractor completed construction and requested payment of the balancesigdue on the contract Afer inspection of the work, he amount. inchuding the pastretainage, was approved for payment and then paid.$(13)$The furniture and equipment were received at a total actual installed cost ofS$459,300.$ Invoices were approved for paymentGalaxy S$22(14)$ The renmainder of the architects fees was approyed for paymeatictions: OnAccessibility. Good to go$(15)$ The City Jail Construction Fund paid all outstanding accounts payables $($$$509,300)$ on December $31,2024$QSearchsC. Part $3.$ New Debt Sertce Fund TransactionsOn the advice of the city attotiey, a City ail Debt Service Fund is opened to accournt fordebt service transactions related to the bond isse sold on January $1,2024($see Pat $1).$Requtreda Open a general joumal for the City Jail Debt Service Fubd. Record the followingtransactions, as necessary Control accounts are not necessaty$(1)$ The premium desoribed in transaction $1$ of Part $1$ was received as a transfer fromthe capital projects fund$(2)$ Cash in the amount of $$160,000$ was teceived from the General Fund om June $30$and was transferred to the fiscal agent$3)$ The fiscal agent reported that checks dated Juty $1$ had been mailed tebondholders for interest due that day.$(4)$ The transfer of the unexpended funds fromn the capital project fund $($described inpart c of Part $1)$ was received.$(5)$Cash in the amount of S$360,000$ was received from the General Fund on$(6)$ $ $200,000$ of the remaining cash on hand was invested.December $31$ and transferred to the fiscal agent to be used for interest andprincipalf payments due on January $1($next fiscal year$)$ The government electedto not accrue the interest at year$-$end.b$.$ Post the entries to the City Jail Debt Service Fund ledger $($t$-$accounts$)$c$.$ Prepare and post an entry closing all nominal accounts to Fund Balance Assume anyrernaning net resources are classified as Fund Balance$-$ Restricted for Debt Service$5$C$.$ Par$4$ Gosernmental Funds Financial StatementsRequired.Prepare a Balance eetoDecembe Pfor theGalaxy S$22$nd h Sueet and Hiehway Fund $($Ohcfunds for the City of Monroe as ofJa Debt Service Fund Use the balancesCity Hall Debt Sereecomputed in $4-$C for the General Fund and special revenue fund portions of this statementPrepare a Statement of Revenues, Expenditures, and Changes in Fund Balances for theamental funds for the City of Monroe for the Year Ended December $31.2024$Include the sarne funds as listed in requirementa plus the City Jail Construction Fund.Styles$16)$ The remaining cash was tranisfered to the City Jail Debt Service Fund$6.$ Post the entries to the City Jail Constriction Fund general ledger.c Prepare and post an entry closing all nominal accounts to Fund Balance$5$C$.$ Part $2$ Evisting Debt Service Fund TransactionsEditingThe City Hall Debt Service Fund of the City of Montoe has beem open for five years, it wasareated to service a $$16,000,000,3$ percent tax$-$supported bond issue. As of December $31,2023,$ this serial bond issue had a balance ofS$12,000,000.$ Semiann