Below Are Three Transactions Related to Construction Projects and Bonds

Essay

Below are three transactions related to construction projects and bonds.
a. Property owners make a special assessment sewer payment. The payment will be used to pay off notes issued to finance the project, which has already been completed. The notes are the obligation of the property owners.
b. General obligation bonds are issued at a premium to finance a building project. The premium is to be used to repay the principal of the bonds, and the appropriate transfer is made.
c. The city makes a direct payment of general fund cash to retire general obligation bonds at face value.
Required
For each transaction, identify the fund(s) affected.