1.Urban City issued $6 million of general obligation bonds at par to finance the construction of a city building.The bonds are 6%,10-year bonds,and interest is paid on June 30 and December 31.
2.The city transferred $3,600,000 from its General Fund to its Debt Service Fund to provide a portion of the resources needed to service the bonds.
3.The city paid the first interest payment to the bondholders.
Required:
Prepare journal entries for each of the above transactions.Identify the appropriate fund or funds used by the city of Urban.

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The Answer of 1.Urban City issued $6 million of general obligation bonds at par to finance the construction of a city building.The bonds are 6%,10-year bonds,and interest is paid on June 30 and December 31.
2.The city transferred $3,600,000 from its General Fund to its Debt Service Fund to provide a portion of the resources needed to service the bonds.
3.The city paid the first interest payment to the bondholders.
Required:
Prepare journal entries for each of the above transactions.Identify the appropriate fund or funds used by the city of Urban.

1Urban City Issued $6 Million of General Obligation Bonds at Par