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During 208, the following transfers and transactions between funds took place in the City of Matthew. 1. On March 1, a $12,700 transfer was made
During 208, the following transfers and transactions between funds took place in the City of Matthew. 1. On March 1, a $12,700 transfer was made from the general fund to establish a building maintenance internal service fund. Matthew uses transfer accounts for this type of transfer. 2. On April 1, the general fund made an $12,800, s1x-month loan to the bullding maintenance service fund. 3. On April 15, $2,460 was transferred from the general fund to the debt service fund to pay interest. 4. On May 5. Matthew's transportation service fund billed the general fund $855 for April services. Required: 0. Prepare joumal entrles and approprlate closing entrles for the general fund involved that should be recorded at the time of each transfer or transaction. b. Prepare journal entrles and appropriate closing entries for the other fund involved that should be recorded at the time of each transfer or transaction. Complete this question by entering your answers in the tabs below. Prepare journal entries and appropriate closing entries for the general fund involved that should be recorded at the time of each transfer or transaction. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the transfer from the General Fund to the Building Maintenance Fund. Note: Enter debits before credits
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