Here are the 3 classmates DB post, please help with providing a reply back regarding their Q&A provided. Focusing on a topic that is being discussed, add value, or ect.

On January 1, 2021, the chief operating officer of New Belgium, Jeff Stambaugh, signed a noncancellable lease for street equipment. The lease was for 10 years. The present value of payments expected to be made during the lease is $75,152. The township's incremental borrowing rate is 7 percent. The $10,000 annual lease payment is due on the first day of each year beginning in 2021. Prepare all journal entries necessary to record the lease transaction for 2021 and the payment made in 2022. (Assume the government uses a voucher system.) Date Account Debit Credit 2021 Expenditures - capital outlay $75,152.00 Other Financing sources - long term leases $75,152.00 To record long term lease Date Account Debit Credit 2021 Capital lease principle $10,000.00 Voucher payable $10,000.00 To record voucher payable Date Account Debit Credit 2021 Voucher payable $10,000.00 Cash $10,000.00 To record payment Liability Date Account Debit Credit 2022 Lease principle $5,439.00 Lease interest $4,561.00 Vouchers payable $10,000.00 To record voucher payable Date Account Debit Credit 2022 Voucher payable $10,000.00 Cash $10,000.00 To pay liability (Journal entries for Capital Projects Fund and Debt Service Fund) McGaha Village operates a sanitation department as part of its general government activities. McGaha Village will acquire new sanitation trucks that will be financed through the issuance of general obliga- tion bonds. McGaha Village uses a Capital Projects Fund and a Debt Service Fund to account for the transactions. Make journal entries to record the following transactions and events and indicate the ap- propriate fund in which the transactions are recorded. 1. April 1. McGaha Village issues bonds for their face amount of $300,000. 2. April 1. McGaha Village acquires sanitation trucks at a total cost of $300.000 for cash. The trucks have an estimated useful life of 10 years. 3. October 1. McGaha Village records the fund liability and pays the first installment of principal ($15,000) and interest ($7,500) on the long-term debt. Il Cash 300,000 Other Financing Sources - Long-Term Debt Issued (To record acquisition of equipment) 300,000 2. Expenditures - Capital 300,000 Outlay Cash 300'00 (To record acquisition of equipment 3, Expenditures - Bond Principal 15,000 Expenditures - Bond Interest 7,500 Matured bond principal payable 15,000 Matured bond interest Payable 7,500 (To record fund liability) Matured Bond Principal Payable 15,000 Matured Bond Interest Payable 7,500 Cash 22,500 (To record payment of liability) E6-49 (Journal entries in a Permanent Fund) The City of Bellevue has one Permanent Fund, which it uses to account for the activities of its perpetual care cemetery. Earnings from investments maintained in the fund are used to maintain and make improvements to the cemetery. Bellevue is still seeking gifts for the fund because current earnings on the $3,000,000 endowment are not sufficient to maintain the cemetery in the long term. Prepare journal entries to record the following transactions for the city's Permanent Fund during its current calendar year. 1. Ms. Nash-Haruna makes a $5,000 contribution to the fund 2. Bellevue purchases investments in the amount of $2,000,000 3. During the year, Bellevue receives $80,000 cash from interest earnings 4. At year end, another $10,000 in interest is due to Bellevue from the investments 5. The fund pays $4,000 in operating expenditures for administration during the year 6. The Permanent Fund owes the General Fund $50,000 at year end for maintenance done by city park personnel for the cemetery. The work by city park personnel previously was recorded as an operating expenditure in the General Fund. Dr Cr 1 Cash 5,000.00 Contribution 5,000.00 To record contribution from Ms Nash 2 Investments 2,000,000.00 Cash 2,000,000.00 To record Bellevue investment purchase 3Cash 80,000.00 Investments income 80,000.00 To record interest on investment 4 Receivable - investment interest 10,000.00 Investment income 10,000.00 To record interest on investment 5 Expenditures- Admin 4,000.00 Cash 4,000.00 To record admin expenditure 6 Expenditures- Operating 50,000.00 Due to general fund 50,000.00 To record operating expenditure and due on general fund