Business, 06.05.2020 03:22 182075

On June 1, 2019, the City of Allentown, PA issued at par, a ten-year, 5.5%, $5,000,000 in serial bonds, with interest payable semi-annually on June 1 and December 1. In addition, the bonds will mature in equal installments every June 1 over the term of the bond. The City of Allentown has a fiscal year end at December 31.
Required:
1. Journalize the following bond transactions both in the Debt Services Fund and at the government-wide (Governmental Activities) level. To receive credit, show all of your calculations in good form. Round all amounts to the nearest dollar.
a. December 1, 2019 entry in the Debt Services Fund:
b. December 1, 2019 entry in the government-wide (Governmental Activities) level:
c. December 31, 2019 entry in the government-wide (Governmental Activities) level:
d. June 1, 2020 entry in the Debt Services Fund:
e. June 1, 2020 entry in the government-wide (Governmental Activities) level:
f. December 1, 2020 entry in the Debt Services Fund:
g. December 1, 2020 entry in the government-wide (Governmental Activities) level:
h. December 31, 2020 entry in the government-wide (Governmental Activities) level:

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On June 1, 2019, the City of Allentown, PA issued at par, a ten-year, 5.5%, $5,000,000 in serial bon...

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