The town of Morovis set the budget for fiscal year July 1, 2021 to June 30, 2022, Estimated Revenues of $10 million dollars and Appropriations of $8 million. The town issued bonds for $10 million, par with a rate of 6% payable semiannually on 30th of December and July. These bonds are serially issued payable in 10 years each 31 of July. The proceeds of these bonds will pay for the construction of a baseball field at a cost of $9 million dollars. During the session it is also agreed to establish a special fund for a baseball academy and will receive a federal grant of $900,000 plus establish a movie ticket tax for the same purpose. The following transactions took place during the fiscal year: 1. Recorded the budget on July 1. 2. Issued all the bonds on the same date and collected the proceeds, 3. Contracted and paid for architect fees for the field blueprint, $60,000. 4. Collected $50,000 on ticket taxes for the fund. 5. Expenditures for training sessions were $25,000. 6. The contractor certified completion of 25% of the project. 7. The general fund transferred the amount and capital projects made payment. 8. Funds were transferred