The state of Artexva advance refunded $8000000 par of 20X2 10% serial bonds by issuing $9000000

The state of Artexva advance refunded $8,000,000 par of 20X2, 10% serial bonds by issuing $9,000,000 par of 20Y6, 6% serial bonds. Required Prepare the entries required to record the following advance refunding transactions, which occurred during 20Y6, in the Artexva Advance Refunding Debt Service Fund. 1. The new $9,000,000, 6%, 20Y6 serial bonds were issued at 101 (no accrued interest) less $290,000 issuance costs, and the net proceeds were accounted for in a new advance refunding DSF. 2. The net proceeds of the 20Y6 serial bond issue were paid to the Second National Bank of Artexva as escrow agent of an irrevocable trust for the benefit of the holders of the 20X2, 10% serial bonds. That amount, $8,800,000, is sufficient under terms of the defeasance provisions in the 20X2, 10% serial bond covenant as invested, to legally defease that issue. 3. The advance refunding DSF accounts were closed, and, its purpose having been served, the fund was discontinued. 4. Assume that the state of Artexva advance refunding bonds yielded only $7,800,000, net of $200,000 issuance costs; an additional $1,000,000 was transferred from the General Fund to the advance refunding DSF; and $8,800,000 was paid to the escrow agent. Prepare the entry necessary to record the payment to the escrow agent. 5. Assume the same facts as in number 4 except (1) the 20X2, 10% serial bonds matured soon after the 20Y6, 6% serial bonds were issued, and (2) the $8,800,000 payment was to retire the $8,000,00