17 2.96 points Skipped Fulbright County constructed a library in one of the county's high-growth areas....

Transcribed Image Text:

17 2.96 points Skipped Fulbright County constructed a library in one of the county's high-growth areas. The construction was funded by a number of sources. Below is selected information related to the Library Capital Project Fund. All activity related to the library construction occurred within the current fiscal year. The county operates on a calendar-year basis. Required Prepare a journal entry for capital projects fund and governmental activities at the government-wide level. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) eBook Print References Transaction Fund / Governmental Activties General Journal 1. The county issued $6,800,000 of 6 percent bonds at par. Proceeds from the bonds were to be used for construction of the library. 1 Capital Projects Fund Governmental Activities 2. A $730,000 federal grant was received to help finance construction of the library. 2 Capital Projects Fund Governmental Activities 3. The Library Special Revenue Fund transferred $330,000 for use in construction of the library. 3 Capital Projects Fund Governmental Activities 4. A construction contract was awarded in the amount of $6,880,000. 4 Capital Projects Fund Debit Credit 17 2.96 points Skipped Fulbright County constructed a library in one of the county's high-growth areas. The construction was funded by a number of sources. Below is selected information related to the Library Capital Project Fund. All activity related to the library construction occurred within the current fiscal year. The county operates on a calendar-year basis. Required Prepare a journal entry for capital projects fund and governmental activities at the government-wide level. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) eBook Print References Transaction Fund / Governmental Activties General Journal 1. The county issued $6,800,000 of 6 percent bonds at par. Proceeds from the bonds were to be used for construction of the library. 1 Capital Projects Fund Governmental Activities 2. A $730,000 federal grant was received to help finance construction of the library. 2 Capital Projects Fund Governmental Activities 3. The Library Special Revenue Fund transferred $330,000 for use in construction of the library. 3 Capital Projects Fund Governmental Activities 4. A construction contract was awarded in the amount of $6,880,000. 4 Capital Projects Fund Debit Credit