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On August 1,2022, the city's water utility fund issued $1,000,000 in 7% five-year serial bonds...

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Accounting

On August 1,2022, the city's water utility fund issued $1,000,000 in 7% five-year serial bonds at 101 at effective rate 6.5% for construction of a new treatment plant. Principal and interest payments are to be made made annually beginning August1,2003. What are the journal entries for the first principal interest payment made for EF and Govermental Wide Business?On August 1,2023, the first principal and interest payment was made on the water utility bonds
\table[[Principal Expense,,,Governmental Wide-Business Activity,],[,,Principal Expense,,],[Interest Expense,,,Interest Expense,,],[Cash,,,Cash,,,],[Equitylmpacted,DirectionOflmpact,Amount,,Equitylmpacted,DirectionOflmpact,Amount],[,,,,,,],[,,,,,,]]On August 1,2023, the first principal and interest payment was made on the water utility bonds
\table[[Principal Expense,,,Governmental Wide-Business Activity,],[,,Principal Expense,,],[Interest Expense,,,Interest Expense,,],[Cash,,,Cash,,,],[Equitylmpacted,DirectionOflmpact,Amount,,Equitylmpacted,DirectionOflmpact,Amount],[,,,,,,],[,,,,,,]]
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