Marilyn County operates on a calendar$-$year basis. It uses a Capital Projects Fund to account for major

capital projects and a Debt Service Fund to accumulate resources to pay principal and interest on

general obligation debt. It does not use encumbrance accounting in the Capital Projects Fund.

The following transactions occur:

$1.$ On January $1,2022,$ Marilyn County issues general obligation bonds in the amount of $$1,250,000$ to

build a community center. The debt will be paid off in $20$ equal semiannual installments of $$62,500$

over a $10-$year period commencing October $1,2022,$ with interest of $4\%$ per annum paid on the $4\%$ per annum paid on the

outstanding debt.

$2.$ The county realizes that the community center will cost more than it originally anticipated. On May $1,$

the county transfers $$25,000$ from its General Fund to its Capital Projects Fund to help meet project

costs.

$3.$ Construction is completed on July $1,2022,$ and the community center is ready for occupancy. The

county pays the contractor a total of $$1,275,000$ on July $1.$ The county anticipates that the

community center will have a useful life of $20$ years.

$4.$ On September $30,2022,$ the General Fund transfers an amount to the Debt Service Fund that is

sufficient to pay the first debt service installment, which is due October $1.$

$5.$ The county pays the debt service due on October $1.$

a$.$ Prepare journal entries to record Transactions $1-5$ in the Capital Projects Fund.

If no entry is necessary in this Fund for a particular transaction, select $\text{'}$No debit $($or credit$)$

entry needed' in the account fields and enter $0$ in the amount fields.