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6. The following transactions affected various funds and activities of the Town of Big Springs. Required Prepare the journal entries for the funds and activities.
6. The following transactions affected various funds and activities of the Town of Big Springs.
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Prepare the journal entries for the funds and activities. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Fund/ Governmental Activties nsaction General Journal Debit Credit 1. The Fire Department, a g I activity accounted for within the General Fund, purchased S180,000 of water from the Water Fund, an enterprise fund. General Fund Enterprise Fund 2. A special revenue fund was awarded a $250,000 reimbursement grant. The General Fund advances $90,000 to the special revenue fund for a short-term period to cover initial costs associated with the grant's purpose General Fund Special Revenue Fund 3. The General Fund transferred its annual contribution of $180,000 to the debt service fund for interest and principal on general obligation bonds due d the year General Fund Activities Debt Service Fund 4. The $6,600 balance in the capital projects fund at the completion of construction of a new Town Hall was transferred to the General Fund. | General Fund Govenmental Activities Capital Projects Fund 5. The General Fund made a long-term loan in the amount of $90,000 to the Central Stores Fund, an internal service fund that services town departments. General Fund Govenmental Activities Internal Service Fund
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