Debit Cash 60,000 Investments 30,000 Restricted fund balance Total 90,000 Highway Debt Service Fund Trial Balance December 31, 2017 Credit 90,000 90,000 1. The city council of Waco adopted the budget for the Debt Service Fund for 2018. The estimated revenues totaled $1,000,000, the estimated other financing sources (a transfer from the General Fund) totaled $500,000, and the appropriations totaled $202,000. 2. The $500,000 transfer from the General Fund was recorded although it had not yet been paid to the Debt Service Fund. 3. To provide additional resources to service the bond issue, a property tax was levied upon the citizens. The total levy was $1,000,000, of which $975,000 was expected to be collected. 4. Property taxes of $780,000 were collected. 5. Property tax receivables of $5,000 were written off. 6. Income received in cash from investments totaled $5,000. 7. Property taxes of $150,000 were collected. 8. The fund liability of $50,000 for interest on bonds was recorded, and that amount of cash was transferred to the fiscal agent. 9. Investment income of $3,000 was received in cash. 10. The fund liabilities for interest on bonds in the amount of $50,000 and principal in the amount of $100,000 were recorded, and cash for the total amount was transferred to the fiscal agent. 11. The fiscal agent's fee of $1,000 was accrued (credit Vouchers payable). 12. Investment revenue of $1,500 was accrued. 13. The transfer accrued in transaction 2 was collected. 14. Investments totaling $1,000,000 were purchased. (a) 1. Estimated revenues Estimated other financing sources Appropriations Budgetary fund balance Debit XXXXXXXX XXXXXXXX 2. Due from General Fund Transfer in from General Fund 3. Property taxes receivable Allowance for uncollectible property taxes Revenues property taxes 4. Cash Property taxes receivable 5. Allowance for uncollectible property taxes Property taxes receivable 6. Cash Revenues investments Credit XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX 7. Cash XXXXXXXX Property taxes receivable XXXXXXXX 8. Expenditures interest XXXXXXXX Matured interest payable XXXXXXXX Matured interest payable Cash XXXXXXXX XXXXXXXX 9. Cash Revenues-investments XXXXXXXX XXXXXXXX 10. Expenditures interest Expenditures-bond principal XXXXXXXX Matured interest payable Matured bonds payable XXXXXXXX XXXXXXXX XXXXXXXX Matured interest payable Matured bonds payable Cash XXXXXXXX XXXXXXXX XXXXXXXX 11. Expenditures fiscal agent fees Vouchers payable XXXXXXXX XXXXXXXX 12. Income receivable on investments XXXXXXXX Revenues-investments XXXXXXXX 13. Cash XXXXXXXX Due from General Fund XXXXXXXX 14. Investments Cash XXXXXXXX XXXXXXXX