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As of December 31, 2019. Sandy Beach had $9.200,000 in 5.0 percent serial bonds outstanding. Cash of $490,000 is th debt service fund's only asset as of December 31, 2019, and there are no liabilities. The serial bonds pay interest semiannually on January 1 and July 1, with $500,000 in bonds being retired on each interest payment date. Resources fo payment of interest are transferred from the General Fund, and the debt service fund levies property taxes in an amount sufficient to cover principal payments. c. Prepare a balance sheet for the debt service fund as of December 31, 2020. SANDY BEACH Debt Service Fund Balance Sheet December 31, 2020 Assets Cash Taxes Receivable Delinquent un 560,000 1.000 Total Assets $ 561.000 Deferred Inflows of Resources Fund Balances Fund Balance-Restricted for Debt Service Total Deferred Inflaves of Resources and Fund Balance 561.000 561.000 $ As of December 31, 2019. Sandy Beach had $9.200,000 in 5.0 percent serial bonds outstanding. Cash of $490,000 is th debt service fund's only asset as of December 31, 2019, and there are no liabilities. The serial bonds pay interest semiannually on January 1 and July 1, with $500,000 in bonds being retired on each interest payment date. Resources fo payment of interest are transferred from the General Fund, and the debt service fund levies property taxes in an amount sufficient to cover principal payments. c. Prepare a balance sheet for the debt service fund as of December 31, 2020. SANDY BEACH Debt Service Fund Balance Sheet December 31, 2020 Assets Cash Taxes Receivable Delinquent un 560,000 1.000 Total Assets $ 561.000 Deferred Inflows of Resources Fund Balances Fund Balance-Restricted for Debt Service Total Deferred Inflaves of Resources and Fund Balance 561.000 561.000 $

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