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On January 1, 2011, the General Fund contributes $200,000 cash to the Internal Service Fund. On January 1, 2011, the General Fund also loans $100,000

On January 1, 2011, the General Fund contributes $200,000 cash to the Internal Service Fund. On January 1, 2011, the General Fund also loans $100,000 cash to the Internal Service Fund. On January 1, 2011, what journal entry does the Internal Service Fund prepare?

  1. Debit Cash $300,000, credit Other Financing Sources $300,000
  2. Debit Cash $300,000, credit Other Financing Sources $200,000, credit Advance from General Fund $100,000
  3. Debit Cash $300,000, credit Advance from General Fund $300,000
  4. Debit Cash $300,000, credit Nonreciprocal Transfer from General Fund $200,000, credit Advance from General Fund $100,000

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