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During 208, the following transfers and transactions botween funds took place in the City of Matthew. 1. On March 1, a $14,000 transfer was made
During 208, the following transfers and transactions botween funds took place in the City of Matthew. 1. On March 1, a $14,000 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 $8,600, six-month loan to the buliding maintenance service fund. 3, On April 15, $2,520 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 $910 for April services. Required: a. Prepare journat entries and appropriate closing entries for the general fund involved that should be recorded at the time of cach transfer or transaction. b. Prepare journal entries 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 other fund involved that should be recorded at the time of each transfer or transaction. Note: Select the appropriate fund for each situation. If no entry is required for a transaction/event, select "No journal entry required" in the fint account field thmw leas
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