As of July 1, 2016, the City of Saratoga Springs decided to purchase a privately operated swimming pool and create swimming pool (Enterprise) Fund. During the year, the following transactions occurred:

2) (40 points) As of July 1, 2016, the City of Saratoga Springs decided to purchase a privately operated swimming pool and to create a Swimming Pool (Enterprise) Fund During the year, the following transactions occurred (a) A permanent contribution of $ 1,200,000 was received from the General Fund (b) $ 1.000,000 was borrowed with a Note Payable from a local bank at an interest rate of 6%. The note was dated July 1, 2016 and interest is paid on 6/30 each year (c) Purchased for cash several items, the cost breakdown was: land, $300,000 building. $600,000, land improvement, $400,000; equipment, $300,000, supplies, $190,000. (d) Charges for services amounted to $720,000, all received in cash (e) Cash expenses included: salaries, $275,000, utilities, $140,000, interest (paid on 6/30/2017), $60,000 (f) Supplies were consumed in the amount of $120,000 (g) Depreciation was recorded for building. $30,000, land improvement $40,000, equipment, $30,000 (h) The books were closed. Close all accounts to Net Position Required Record the above transactions in general journal form (on the books of the swimming pool fund)