On October $1,2023,$ the City of Thomasville issued $$5,000,000$ in $4\%,$ general obligation bonds at $101$ for the purpose of constructing an addition to City Hall. The premium was transferred to a debt service fund. A total of $$4,968,750$ was used to construct the addition, which was completed prior to June $30,2024.$ The remaining funds were transferred to the debt service fund. The bonds were dated October $1,2023,$ and paid interest on April $1$ and October $1.$ The first of $20$ annual principal payments of $$250,000$ is due on October $1,2024.$ The fiscal year for Thomasville is July $1$ to June $30.$

In addition to a $$5,000,000$ liability in the government$-$wide Statement of Net Position, how would the bond sale be reported?

Multiple Choice

As a $$5,050,000$ other financing source in the capital projects fund, a $$50,000$ other financing use in the capital projects fund, and a $$50,000$ other financing source in the debt service fund

As a $$5,000,000$ other financing source in the capital projects fund, a $$50,000$ other financing source in the debt service fund, and as a $$5,000,000$ liability in the debt service fund

As a $$4,968,750$ revenue in the capital projects fund and a $$50,000$ revenue in the debt service fund

As a $$5,000,000$ revenue in the capital projects fund, a $$50,000$ revenue in the debt service fund, and a $$5,000,000$ expenditure in the debt service fund