Question
Hello! I'm having some trouble coming up with the journal entries for this. I know it should be an expense of $18,200, but is that
Hello! I'm having some trouble coming up with the journal entries for this. I know it should be an expense of $18,200, but is that "expense - general fund," "expense - public safety," or "expense - public works?" The "Solid Waste Disposal Fund" is throwing me off I think. Thank you in advance!
[Para. 4-a-12]Services received by the General Government function of the General Fund from the Solid Waste Disposal Fund amounted to $18,200 during the year. Of this amount, $15,400 was paid in cash and $2,800 remained unpaid at year-end.
Required:Record the receipt of these services, amounts paid during the year, and remaining liability in the General Fund and governmental activities journals.At the government-wide level the liability should be credited to Internal Payables to Business-type-Activities.Do not record these items in the Solid Waste Disposal Funduntil instructed to do so in Chapter 7 of this case.
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