17. As of July 1, 2021, the City of Saratoga Springs decided

to purchase a privately operated swimming pool and to

create a Swimming Pool Fund. During the year, the

following transactions occurred. Record the selected

transactions on the books of the Swimming Pool Fund.

a. A permanent contribution of $800,000 was received

from the General Fund.

b. $1,000,000 was borrowed from a local bank, signing a

note at an interest rate of 6%.

c. Purchased for cash several items, the cost breakdown

was: land $300,000; building $400,000; land

improvement, $400,000; supplies $190,000

d. Charges for services billed to external customers

amounted to $600,000

e. Cash expenses included: salaries $200,000; utilities

$100,000; interest $60,000

f. It was estimated that $1,800 will not be collected from

customers

Prepare journal entries in good format & label each entry as

(a), (b), (c), etc. revenues and expenses should be classified

as Operating or Nonoperating.