E18-9 Interfund Transfers and Transactions LO 18-1 During 20x8, 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 $8,900, six-month loan to the building maintenance service fund. 3. On April 15. $2.480 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: a. Prepare journal entries and appropriate closing entries for the general fund involved that should be recorded at the time of each transfer or transaction (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) View transaction list Journal entry worksheet Record the transfer from the General Fund to the Building Maintenance Fund. Note: Enter debits before credits. Date General Journal Debit Credit Mar 01 Record entry Clear entry View general journal 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 (Select the appropriate fund for each situation. If no entry is required for a transaction/event, select "No Journal entry required" In the first account field.) Transaction Fund General Journal Debit Credit