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For the following event, prepare journal entries under a governmental fund (using modified accrual), necessary worksheet entries, and government-wide financial statements (using accrual basis of
For the following event, prepare journal entries under a governmental fund (using modified accrual), necessary worksheet entries, and government-wide financial statements (using accrual basis of accounting). The modified accrual statement reflected debt service expenditures in the amount of $500,000 for interest and $612,000 for principal. No adjustment was necessary for interest accruals at year-end. \begin{tabular}{|l|l|l|l|l|} \hline Worksheet Entries & & & \\ \hline Account Debited & Account Credited & & Amount Debited & Amount Credited \\ \hline [Select ] & & 612,000 \\ \hline[ Select ] & {[} & 500,000 & \\ \hline & {[ Select ]} & & & \\ \hline & {[ Select ]} & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline JE under Accrual & & \\ \hline Account Debited & Account Credited & Amount Debited & \\ \hline \hline [Select ] & & 612,000 \\ \hline \hline Select ] & & & \\ \hline & {[ Select ]} & & \\ \hline & 00,000 & \\ \hline \end{tabular}
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