The July 1 20X5 trial balance for the Bond Redemption

The July 1, 20X5, trial balance for the Bond Redemption and Interest Debt Service Fund of the
County of Hawaii, Hawaii, is presented here. The resources of the fund are committed to debt
service.The County had the following transactions in its Bond Redemption DSF from July 1,
20X5, through June 30, 20X6.1. Paid accrued interest when due, July 18, 20X5.2. Received
transfers of unassigned resources from the General Fund totaling $105,396,619.3. Paid
principal ($12,878,605) and interest ($9,776,065) on the bonds.4. Purchased $7,300,000 of
investments.5. An interest payment of $320,521 is due and payable on July 18, 20X6.Required
a. Prepare the General Ledger general journal entries required to record the preceding
transactions and information for the Bond Redemption and Interest DSF of the County of Hawaii
for the fiscal year ended June 30, 20X6.b. Prepare the required financial statements for this
DSF for the 20X5–20X6 fiscalyear. View Solution: The July 1 20X5 trial balance for the Bond
Redemption
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