f t Question 1 6 points The Saratoga Springs City decided to establish an internal service fund to account for the operations of a Print Shop The Print Shop is to begin operations on July 1, 2019 the first day of the City's fiscal year. During the fiscal year ended June 30, 2020 the following transactions occurred (a) The General Fund made a permanent contribution of $450,000 and a long-term advance of $840,000 to the Print Shop Fund The advance is to be repaid by the Print Shop Fund in four equal annual installments, the first installment is due 6/30/2020 The advance is non interest bearing and is considered issued for the purchases of equipment (b) During the year equipment was purchased (in the amount of $910,000 (c) During the year, printing supplies costing $140.000 were purchased, all but $30,000 was paid in cash (d) Depreciation was charged on equipment $82,000 (e) The first installment of the advance was repaid Required: Prepare journal entries in the general journal of the Saratoga Springs City Print Shop Fund to reflect the above transactions For the toolbar, press ALT+ 10 (PC) or ALT+F+F10 (Mac BIVS Paragraph Arial EYE I. XD points The Saratoga Springs City decided to establish an internal service fund to account for the operations of a Print Shop. The Print Shop is to begin operations on July 1, 2019 the first day of the City's fiscal year. During the fiscal year ended June 30, 2020 the following transactions occurred (a) The General Fund made a permanent contribution of $450,000 and a long-term advance of $840,000 to the Print Shop Fund. The advance is to be repaid by the Print Shop Fond in four equal annual installments, the first instaliment is due 6/30/2020. The advance is non-interest bearing and is considered issued for the purchases of equipment (b) During the year equipment was purchased in the amount of $910,000 (c) During the year, printing supplies costing $140 000 were purchased, all but 530.000 was paid in cash (d) Depreciation was charged on equipment. $82.000 (a) The first installment of the advance was repaid Required: D Prepare journal entries in the general journal of the Saratoga Springs City Print Shop Fund to reflect the above transactions