voted to construct sidewalks in a in a new neighborhood, assessed the property owners for the cost and issues debt to finance the project. For the 2021 transactions that follow, prepare journal entries in the City’s Capital Project Fund (if applicable) and/or Debt Service fund (if applicable). 1. On January 1, 2021, the city council assessed the property owners the estimated cost of $8,000,000. The assessments are payable over a five-year period ($1,600,000 per year) with interest at 6 percent annually on the unpaid balance. The first installment