41: the city of McNeely sold bonds in the amount of $10000000 to finance the c

41: the city of McNeely sold bonds in the amount of $10000000 to finance the construction of a public health center. The bonds are serial bonds and where
sold at par on July 1 2014 the first day of a fiscal year.

Shortly thereafter a construction contract in the amount of $9000000 was sisned and the contractor commenced work.

By year-end the contractor had been paid in full for all billings to date amounting to $4000000.

Prepare in general journal form all journal entries that should have been made during the fiscal year ended June 30 2015 to record the preceding information
in the capital projects fund. Including closing entry.