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A city transfers $150,000 from its General Fund to its Golf Fund (an Enterprise Fund). The transfer is made every year and is intended to
A city transfers $150,000 from its General Fund to its Golf Fund (an Enterprise Fund). The transfer is made every year and is intended to subsidize the operation of the citys golf course. The General Fund does not expect to be repaid. What type of interfund transaction is this? What are the appropriate journal entries (if any) for the General Fund, the Golf Fund, the Governmental Activities and the Business-Type Activities?
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