For each of the following transactions prepareALLcorresponding journal entriesin all funds affectedfor the City of Dover as of 12/31/X6 or calculate the requested dollar amounts.When more than one fund is involved, you must indicate the fund that the journal entry is being posted for.

Question

A train derails and causes a toxic chemical spill in the city's commercial district. The railroad declares bankruptcy and the city's clean-up costs total $300,000 after insurance. This event is deemed unusual, infrequent and material. (1 entry)